Assenagon Asset Management S.A. Sells 372,591 Shares of Codexis, Inc. $CDXS

Key Points

• Assenagon Asset Management S.A. sold 372,591 shares of Codexis, Inc., reducing its stake by 61.9% and now owning 229,697 shares worth approximately $560,000.
• Several institutional investors, including Inspire Investing LLC and Royal Bank of Canada, have increased their positions in Codexis, reflecting mixed investor sentiment.
• Codexis reported a quarterly EPS of ($0.16), slightly exceeding expectations, while showing a negative return on equity and a market cap of $222.06 million.

Assenagon Asset Management S.A. decreased its position in Codexis, Inc. (NASDAQ:CDXS - Free Report) by 61.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 229,697 shares of the biotechnology company's stock after selling 372,591 shares during the period. Assenagon Asset Management S.A. owned about 0.28% of Codexis worth $560,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDXS. Inspire Investing LLC increased its holdings in shares of Codexis by 48.4% during the 1st quarter. Inspire Investing LLC now owns 126,103 shares of the biotechnology company's stock worth $339,000 after acquiring an additional 41,115 shares during the last quarter. Strs Ohio acquired a new position in shares of Codexis during the 1st quarter worth approximately $288,000. Integrity Alliance LLC. acquired a new position in shares of Codexis during the 1st quarter worth approximately $30,000. Jacobs Levy Equity Management Inc. grew its holdings in Codexis by 24.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,070,253 shares of the biotechnology company's stock valued at $2,879,000 after buying an additional 209,298 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in Codexis by 24.9% in the 1st quarter. Royal Bank of Canada now owns 437,126 shares of the biotechnology company's stock valued at $1,176,000 after buying an additional 87,044 shares in the last quarter. Institutional investors own 78.54% of the company's stock.

Analyst Upgrades and Downgrades

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

Codexis Price Performance

Shares of Codexis stock opened at $2.46 on Friday. Codexis, Inc. has a one year low of $1.90 and a one year high of $6.08. The stock's fifty day moving average is $2.71 and its 200 day moving average is $2.55. The stock has a market cap of $222.06 million, a P/E ratio of -2.96 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 (NASDAQ:CDXS - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The biotechnology company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. Codexis had a negative return on equity of 105.83% and a negative net margin of 113.67%.The company had revenue of $15.33 million during the quarter, compared to analyst estimates of $14.18 million. Sell-side analysts anticipate that Codexis, Inc. will post -0.77 earnings per share for the current 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.

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