Codexis, Inc. $CDXS Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Codexis, Inc. by 41.4%, selling 218,537 shares during the first quarter, leaving it with 309,086 shares valued at $831,000.
• Assenagon Asset Management S.A. boosted its position in Codexis by 109.2%, bringing its total holdings to 602,288 shares worth $1,620,000.
• After recently reporting earnings, Codexis has a consensus price target of $11.00, with an average rating of "Moderate Buy" from analysts.

Goldman Sachs Group Inc. reduced its position in shares of Codexis, Inc. (NASDAQ:CDXS - Free Report) by 41.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 309,086 shares of the biotechnology company's stock after selling 218,537 shares during the period. Goldman Sachs Group Inc. owned 0.37% of Codexis worth $831,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of Codexis by 109.2% during the first quarter. Assenagon Asset Management S.A. now owns 602,288 shares of the biotechnology company's stock valued at $1,620,000 after acquiring an additional 314,424 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Codexis by 24.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,070,253 shares of the biotechnology company's stock valued at $2,879,000 after acquiring an additional 209,298 shares during the last quarter. Deutsche Bank AG increased its position in shares of Codexis by 37.1% during the fourth quarter. Deutsche Bank AG now owns 48,172 shares of the biotechnology company's stock valued at $230,000 after acquiring an additional 13,038 shares during the last quarter. Bank of America Corp DE increased its position in shares of Codexis by 37.0% during the fourth quarter. Bank of America Corp DE now owns 76,305 shares of the biotechnology company's stock valued at $364,000 after acquiring an additional 20,589 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of 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 acquiring an additional 17,800 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, 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 research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Codexis currently has an average rating of "Moderate Buy" and a consensus price target of $11.00.

Codexis Stock Down 2.4%

Shares of NASDAQ:CDXS opened at $2.46 on Wednesday. The company has a market capitalization of $222.06 million, a PE ratio of -2.96 and a beta of 2.54. The company has a current ratio of 5.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.71. Codexis, Inc. has a twelve month low of $1.90 and a twelve month high of $6.08. The firm has a 50 day simple moving average of $2.74 and a 200-day simple moving average of $2.56.

Codexis (NASDAQ:CDXS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The biotechnology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. The business had revenue of $15.33 million during the quarter, compared to the consensus estimate of $14.18 million. Codexis had a negative net margin of 113.67% and a negative return on equity of 105.83%. On average, equities analysts predict that Codexis, Inc. will post -0.77 EPS for the current fiscal year.

Codexis Company 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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