Codexis, Inc. $CDXS Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc significantly increased its stake in Codexis, Inc. by 592.9%, now owning 4,200,950 shares and making up 5.07% of the company, valued at approximately $10.25 million.
• Codexis has seen varied institutional investments, with a total of 78.54% of its stock owned by institutional investors and hedge funds as recent filings indicate.
• The company reported a net loss of ($0.16) per share but exceeded revenue expectations with $15.33 million, compared to analysts' estimates of $14.18 million for the quarter.

Aberdeen Group plc lifted its stake in Codexis, Inc. (NASDAQ:CDXS - Free Report) by 592.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,200,950 shares of the biotechnology company's stock after acquiring an additional 3,594,656 shares during the period. Aberdeen Group plc owned 5.07% of Codexis worth $10,250,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Integrity Alliance LLC. acquired a new stake in Codexis during the first quarter valued at approximately $30,000. US Bancorp DE lifted its stake in Codexis by 11,125.0% during the first quarter. US Bancorp DE now owns 17,960 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 17,800 shares during the last quarter. Invesco Ltd. lifted its stake in Codexis by 100.0% during the first quarter. Invesco Ltd. now owns 67,447 shares of the biotechnology company's stock valued at $181,000 after purchasing an additional 33,716 shares during the last quarter. Clough Capital Partners L P lifted its stake in Codexis by 93.8% during the first quarter. Clough Capital Partners L P now owns 69,000 shares of the biotechnology company's stock valued at $186,000 after purchasing an additional 33,400 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Codexis during the first quarter valued at approximately $288,000. 78.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CDXS has been the subject of several recent research reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Codexis in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Codexis from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $11.00.

Codexis Stock Up 8.7%

Shares of NASDAQ:CDXS opened at $2.74 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 5.70 and a current ratio of 5.82. The company has a market cap of $247.34 million, a PE ratio of -3.30 and a beta of 2.50. Codexis, Inc. has a 52 week low of $1.90 and a 52 week high of $6.08. The firm has a 50 day simple moving average of $2.62 and a 200 day simple moving average of $2.54.

Codexis (NASDAQ:CDXS - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The biotechnology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. The firm had revenue of $15.33 million for the quarter, compared to analyst estimates of $14.18 million. Codexis had a negative net margin of 113.67% and a negative return on equity of 105.83%. As a group, research analysts expect 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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