CenterBook Partners LP Decreases 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 cut its holdings in shares of Codexis, Inc. (NASDAQ:CDXS - Free Report) by 46.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 526,089 shares of the biotechnology company's stock after selling 456,759 shares during the period. 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 (SEC).

Several other hedge funds also recently added to or reduced their stakes in CDXS. Corebridge Financial Inc. raised its stake in shares of Codexis by 7.2% during the 4th quarter. Corebridge Financial Inc. now owns 40,052 shares of the biotechnology company's stock valued at $191,000 after buying an additional 2,703 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Codexis by 81.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,428 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 3,783 shares in the last quarter. Baillie Gifford & Co. raised its position in Codexis by 0.3% during the first quarter. Baillie Gifford & Co. now owns 1,699,644 shares of the biotechnology company's stock valued at $4,572,000 after acquiring an additional 5,619 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Codexis by 2.5% in the fourth quarter. Two Sigma Investments LP now owns 263,218 shares of the biotechnology company's stock valued at $1,256,000 after acquiring an additional 6,397 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Codexis by 19.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,606 shares of the biotechnology company's stock worth $218,000 after purchasing an additional 7,384 shares in the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.

Codexis Price Performance

CDXS traded down $0.01 during trading on Friday, hitting $2.77. The company's stock had a trading volume of 860,695 shares, compared to its average volume of 780,368. The firm has a market capitalization of $229.49 million, a price-to-earnings ratio of -2.80 and a beta of 2.54. Codexis, Inc. has a twelve month low of $1.90 and a twelve month high of $6.08. The business's fifty day simple moving average is $2.65 and its 200 day simple moving average is $2.88. The company has a current ratio of 3.72, a quick ratio of 3.64 and a debt-to-equity ratio of 0.59.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Codexis to a "sell" rating in a 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.