Aberdeen Group plc Acquires 97,671 Shares of Codexis, Inc. $CDXS

Key Points

• Aberdeen Group plc increased its stake in Codexis, Inc. by 19.2%, owning 606,294 shares valued at approximately $1.63 million as of the latest SEC filing.
• Codexis reported a revenue of $15.33 million and beat EPS estimates, though it still has a negative net margin of 113.67% and a negative return on equity of 105.83%.
• Analysts have adjusted Codexis's rating from "strong sell" to "hold," with a consensus rating of "Moderate Buy" and an average price target of $11.00.

Aberdeen Group plc increased its holdings in Codexis, Inc. (NASDAQ:CDXS - Free Report) by 19.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 606,294 shares of the biotechnology company's stock after buying an additional 97,671 shares during the quarter. Aberdeen Group plc owned 0.73% of Codexis worth $1,631,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nuveen LLC purchased a new position in shares of Codexis in the first quarter worth approximately $3,358,000. Invesco Ltd. lifted its holdings in Codexis by 100.0% during the first quarter. Invesco Ltd. now owns 67,447 shares of the biotechnology company's stock valued at $181,000 after purchasing an additional 33,716 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in 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 purchasing an additional 10,530 shares in the last quarter. US Bancorp DE lifted its holdings in Codexis by 11,125.0% during the first quarter. US Bancorp DE now owns 17,960 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 17,800 shares in the last quarter. Finally, Perkins Capital Management Inc. lifted its holdings in Codexis by 69.3% during the first quarter. Perkins Capital Management Inc. now owns 318,800 shares of the biotechnology company's stock valued at $858,000 after purchasing an additional 130,450 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company's stock.

Wall Street Analysts Forecast Growth

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

Codexis Price Performance

Shares of Codexis stock traded up $0.04 on Wednesday, hitting $2.67. 2,725,185 shares of the company traded hands, compared to its average volume of 1,235,747. The stock has a market capitalization of $241.02 million, a P/E ratio of -3.22 and a beta of 2.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 5.70 and a current ratio of 5.82. Codexis, Inc. has a 52 week low of $1.90 and a 52 week high of $6.08. The business has a 50-day simple moving average of $2.79 and a 200 day simple moving average of $2.73.

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

Codexis 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.