CenterBook Partners LP Trims Stock Holdings in Codexis, Inc. (NASDAQ:CDXS)

Key Points

• CenterBook Partners LP reduced its stake in Codexis, Inc. by 46.5%, selling 456,759 shares and retaining 526,089 shares, valued at approximately $1,415,000.
• Other institutional investors like Assenagon Asset Management and Vanguard Group have increased their holdings in Codexis, indicating a mixed sentiment among major shareholders.
• Codexis reported earnings of ($0.25) per share, missing estimates, with revenue of $7.54 million compared to expected $10.38 million.

CenterBook Partners LP reduced its position in Codexis, Inc. (NASDAQ:CDXS - Free Report) by 46.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 526,089 shares of the biotechnology company's stock after selling 456,759 shares during the quarter. CenterBook Partners LP owned about 0.64% of Codexis worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its stake in Codexis by 18.7% during the fourth quarter. LPL Financial LLC now owns 223,995 shares of the biotechnology company's stock worth $1,068,000 after acquiring an additional 35,335 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Codexis by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 4,463,801 shares of the biotechnology company's stock worth $21,292,000 after purchasing an additional 311,082 shares during the period. Corebridge Financial Inc. increased its position in Codexis by 7.2% during the 4th quarter. Corebridge Financial Inc. now owns 40,052 shares of the biotechnology company's stock worth $191,000 after purchasing an additional 2,703 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Codexis by 484.4% in the fourth quarter. JPMorgan Chase & Co. now owns 183,906 shares of the biotechnology company's stock valued at $877,000 after buying an additional 152,438 shares during the period. Finally, Franklin Resources Inc. lifted its position in Codexis by 501.2% during the fourth quarter. Franklin Resources Inc. now owns 177,101 shares of the biotechnology company's stock valued at $845,000 after buying an additional 147,645 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company's stock.

Codexis Stock Up 5.8%

Shares of NASDAQ CDXS traded up $0.16 on Monday, hitting $2.93. The company had a trading volume of 559,895 shares, compared to its average volume of 854,276. The company has a quick ratio of 3.64, a current ratio of 3.72 and a debt-to-equity ratio of 0.59. Codexis, Inc. has a 12-month low of $1.90 and a 12-month high of $6.08. The firm has a market capitalization of $242.82 million, a P/E ratio of -2.96 and a beta of 2.54. The business has a 50 day moving average of $2.65 and a two-hundred day moving average of $2.85.

Codexis (NASDAQ:CDXS - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.05). The company had revenue of $7.54 million during the quarter, compared to analysts' expectations of $10.38 million. Codexis had a negative return on equity of 118.47% and a negative net margin of 149.47%. As a group, equities research analysts forecast that Codexis, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Codexis to a "sell" rating in a research report on Friday, May 16th.

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.