Codexis (NASDAQ:CDXS) CFO Sells $15,597.50 in Stock

Key Points

• Codexis CFO Georgia Erbez sold 6,239 shares of the company for $15,597.50, resulting in an 8.12% decrease in their ownership of the stock.
• The company's stock traded at $2.74, with a 1-year low of $1.90 and a high of $6.08, while holding a market cap of $247.34 million.
• Analysts currently have a consensus rating of "Hold" for Codexis, with a price target set at $11.00.

Codexis, Inc. (NASDAQ:CDXS - Get Free Report) CFO Georgia Erbez sold 6,239 shares of the company's stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $2.50, for a total value of $15,597.50. Following the transaction, the chief financial officer directly owned 70,636 shares in the company, valued at $176,590. This represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Codexis Stock Performance

Shares of CDXS stock traded up $0.22 during mid-day trading on Wednesday, reaching $2.74. The stock had a trading volume of 599,405 shares, compared to its average volume of 872,480. The business's fifty day moving average is $2.62 and its 200-day moving average is $2.53. The company has a current ratio of 5.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.71. The firm has a market cap of $247.34 million, a price-to-earnings ratio of -3.30 and a beta of 2.50. Codexis, Inc. has a 1-year low of $1.90 and a 1-year high of $6.08.

Codexis (NASDAQ:CDXS - Get Free Report) last issued its earnings results on Wednesday, August 13th. The biotechnology company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.01. The firm had revenue of $15.33 million for the quarter, compared to the consensus estimate of $14.18 million. Codexis had a negative return on equity of 105.83% and a negative net margin of 113.67%. On average, research analysts forecast that Codexis, Inc. will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

CDXS has been the subject of several recent analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Codexis in a research note on Wednesday, October 8th. Wall Street Zen upgraded Codexis from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in Codexis by 109.2% in the first quarter. Assenagon Asset Management S.A. now owns 602,288 shares of the biotechnology company's stock valued at $1,620,000 after acquiring an additional 314,424 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Codexis by 24.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,070,253 shares of the biotechnology company's stock worth $2,879,000 after purchasing an additional 209,298 shares in the last quarter. Strs Ohio acquired a new position in shares of Codexis during the first quarter worth approximately $288,000. US Bancorp DE lifted its holdings in Codexis by 11,125.0% in the first quarter. US Bancorp DE now owns 17,960 shares of the biotechnology company's stock valued at $48,000 after buying an additional 17,800 shares during the period. Finally, Inspire Investing LLC raised its holdings in Codexis by 48.4% in the first quarter. Inspire Investing LLC now owns 126,103 shares of the biotechnology company's stock worth $339,000 after purchasing an additional 41,115 shares during the period. Institutional investors and hedge funds own 78.54% of the company's stock.

About Codexis

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.

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