Aberdeen Group plc Raises Stake in Codexis, Inc. $CDXS

Key Points

• Aberdeen Group plc boosted its stake in Codexis by 94.7% in Q4, buying 3,874,436 shares to hold 7,966,498 shares (about 8.82% of the company) valued at approximately $12.99 million.
• Institutional investors now own 78.54% of Codexis, with several funds increasing positions — Opaleye owns 12.6M shares, Millennium added roughly 3.95M shares, and Nantahala, Vanguard and Ameriprise also raised stakes.
• Analyst views are mixed with a consensus Hold rating and a $5.00 average target; Codexis beat Q4 EPS and revenue expectations but remains unprofitable (net margin -62.47%, ROE -90.51%) and trades around $1.98 (market cap ≈ $180M).

Aberdeen Group plc boosted its position in Codexis, Inc. (NASDAQ:CDXS - Free Report) by 94.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,966,498 shares of the biotechnology company's stock after buying an additional 3,874,436 shares during the quarter. Aberdeen Group plc owned approximately 8.82% of Codexis worth $12,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Opaleye Management Inc. boosted its stake in Codexis by 32.6% in the second quarter. Opaleye Management Inc. now owns 12,600,000 shares of the biotechnology company's stock worth $30,744,000 after buying an additional 3,100,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Codexis by 1.8% in the third quarter. Vanguard Group Inc. now owns 4,669,815 shares of the biotechnology company's stock worth $11,394,000 after buying an additional 80,602 shares during the period. Millennium Management LLC increased its holdings in shares of Codexis by 3,376.5% in the third quarter. Millennium Management LLC now owns 4,067,559 shares of the biotechnology company's stock worth $9,925,000 after buying an additional 3,950,557 shares during the period. Nantahala Capital Management LLC increased its holdings in shares of Codexis by 42.4% in the second quarter. Nantahala Capital Management LLC now owns 4,030,619 shares of the biotechnology company's stock worth $9,835,000 after buying an additional 1,200,000 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Codexis by 8.7% in the third quarter. Ameriprise Financial Inc. now owns 2,773,646 shares of the biotechnology company's stock worth $6,768,000 after buying an additional 222,840 shares during the period. Hedge funds and other institutional investors own 78.54% of the company's stock.

Analyst Upgrades and Downgrades

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

Codexis Stock Performance

Shares of CDXS opened at $1.98 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.82 and a quick ratio of 3.75. Codexis, Inc. has a one year low of $0.96 and a one year high of $3.87. The company has a 50-day simple moving average of $1.38 and a two-hundred day simple moving average of $1.77. The firm has a market capitalization of $179.92 million, a PE ratio of -3.81 and a beta of 2.08.

Codexis (NASDAQ:CDXS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 11th. The biotechnology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.01 by $0.10. The business had revenue of $38.92 million during the quarter, compared to analyst estimates of $35.83 million. Codexis had a negative net margin of 62.47% and a negative return on equity of 90.51%. On average, analysts anticipate that Codexis, Inc. will post -0.77 EPS for the current fiscal year.

About Codexis

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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