BlackRock Inc. bought a new stake in shares of Codexis, Inc. (NASDAQ:CDXS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,284,352 shares of the biotechnology company's stock, valued at approximately $16,463,000. BlackRock Inc. owned 8.01% of Codexis as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Navalign LLC purchased a new position in shares of Codexis during the fourth quarter valued at $25,000. Victory Capital Management Inc. purchased a new stake in shares of Codexis in the third quarter worth approximately $25,000. State of Wyoming acquired a new stake in shares of Codexis during the second quarter worth approximately $25,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Codexis during the third quarter worth approximately $26,000. Finally, Simplicity Wealth LLC purchased a new position in Codexis during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 78.54% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on CDXS shares. Weiss Ratings downgraded shares of Codexis from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday. Piper Sandler lowered their price target on shares of Codexis from $9.00 to $8.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Codexis in a research note on Wednesday, June 17th. Benchmark reiterated a "hold" rating on shares of Codexis in a report on Thursday, August 20th. Finally, Wall Street Zen cut Codexis from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Codexis currently has an average rating of "Hold" and a consensus price target of $6.50.
Check Out Our Latest Stock Report on CDXS
Codexis Trading Down 3.7%
NASDAQ:CDXS opened at $1.42 on Friday. Codexis, Inc. has a 12 month low of $0.96 and a 12 month high of $2.98. The firm has a market cap of $155.50 million, a price-to-earnings ratio of -4.18 and a beta of 2.52. The company has a quick ratio of 2.99, a current ratio of 3.06 and a debt-to-equity ratio of 1.03. The company's 50 day moving average is $1.86 and its 200-day moving average is $2.01.
Codexis (NASDAQ:CDXS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. The business had revenue of $14.91 million during the quarter, compared to analysts' expectations of $13.82 million. Codexis had a negative net margin of 39.55% and a negative return on equity of 74.36%. Equities analysts anticipate that Codexis, Inc. will post -0.37 EPS for the current year.
About Codexis
(
Free Report)
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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