Nuveen LLC Takes Position in Codexis, Inc. $CDXS

Key Points

• Nuveen LLC has acquired 1,248,263 shares of Codexis, Inc. for approximately $3.36 million, increasing its ownership to 1.51% of the company.
• Codexis reported a $15.33 million revenue for the last quarter, beating analysts' expectations of $14.18 million.
• Analysts have raised Codexis from a "strong sell" to a "hold" rating, with an average target price of $11.00, indicating potential upside for investors.

Nuveen LLC acquired a new stake in shares of Codexis, Inc. (NASDAQ:CDXS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,248,263 shares of the biotechnology company's stock, valued at approximately $3,358,000. Nuveen LLC owned approximately 1.51% of Codexis as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. increased its holdings in shares of Codexis by 0.3% during the first quarter. Baillie Gifford & Co. now owns 1,699,644 shares of the biotechnology company's stock valued at $4,572,000 after acquiring an additional 5,619 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Codexis by 2.5% during the fourth quarter. Two Sigma Investments LP now owns 263,218 shares of the biotechnology company's stock valued at $1,256,000 after buying an additional 6,397 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Codexis by 19.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,606 shares of the biotechnology company's stock valued at $218,000 after buying an additional 7,384 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Codexis by 38.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,552 shares of the biotechnology company's stock valued at $151,000 after buying an additional 8,832 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Codexis by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 250,250 shares of the biotechnology company's stock valued at $673,000 after buying an additional 10,530 shares during the last quarter. Institutional investors own 78.54% of the company's stock.

Codexis Price Performance

NASDAQ CDXS traded down $0.22 during trading on Tuesday, reaching $2.51. The company's stock had a trading volume of 1,566,798 shares, compared to its average volume of 1,288,945. The stock has a market capitalization of $226.58 million, a PE ratio of -3.02 and a beta of 2.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 5.82 and a quick ratio of 5.70. The firm has a fifty day moving average of $2.82 and a 200 day moving average of $2.68. Codexis, Inc. has a one year low of $1.90 and a one year high of $6.08.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Codexis from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Codexis currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.

Codexis Company Profile

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.