537,833 Shares in Codexis, Inc. $CDXS Purchased by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL bought 537,833 shares of Codexis (~$1.31 million) in Q3 and now owns about 0.60% of the company, with institutional investors holding roughly 78.54% of the stock.
• Codexis beat quarterly expectations (EPS $0.11 vs. $0.01 estimate; revenue $38.92M vs. $35.83M) but remains unprofitable with a -62.47% net margin and -90.51% ROE, and analysts project -0.77 EPS for the fiscal year.
• The stock opened at $2.30 with a market cap of $209M, and Wall Street consensus is a "Hold" with an average target price of $5 amid mixed analyst ratings (Stifel $5 target, Cantor Fitzgerald overweight, Weiss sell, Wall Street Zen upgraded to hold).

Tudor Investment Corp ET AL purchased a new position in shares of Codexis, Inc. (NASDAQ:CDXS - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 537,833 shares of the biotechnology company's stock, valued at approximately $1,312,000. Tudor Investment Corp ET AL owned 0.60% of Codexis as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the company. State of Wyoming acquired a new stake in shares of Codexis in the 2nd quarter valued at approximately $25,000. Victory Capital Management Inc. acquired a new stake in shares of Codexis in the 3rd quarter valued at approximately $25,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Codexis in the 3rd quarter valued at approximately $26,000. Crux Wealth Advisors acquired a new stake in shares of Codexis in the 3rd quarter valued at approximately $33,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Codexis by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 16,608 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 8,038 shares in the last quarter. 78.54% of the stock is owned by institutional investors.

Codexis Stock Up 2.7%

Codexis stock opened at $2.30 on Tuesday. The company has a quick ratio of 3.75, a current ratio of 3.82 and a debt-to-equity ratio of 0.79. Codexis, Inc. has a 12-month low of $0.96 and a 12-month high of $3.87. The firm's fifty day moving average is $1.46 and its 200 day moving average is $1.77. The company has a market capitalization of $209.00 million, a PE ratio of -4.42 and a beta of 2.08.

Codexis (NASDAQ:CDXS - Get Free Report) last released its earnings results on Wednesday, March 11th. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.10. Codexis had a negative net margin of 62.47% and a negative return on equity of 90.51%. The company had revenue of $38.92 million for the quarter, compared to the consensus estimate of $35.83 million. As a group, sell-side analysts predict that Codexis, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on CDXS. Stifel Nicolaus set a $5.00 target price on shares of Codexis in a research report on Thursday, March 12th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Codexis in a research report on Wednesday, January 21st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Codexis in a research report on Thursday, March 12th. Finally, Wall Street Zen upgraded shares of Codexis from a "strong sell" rating to a "hold" rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $5.00.

Codexis Profile

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company's proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.

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