Codexis, Inc. $CDXS Stock Position Trimmed by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Codexis stake by 63.8% in the third quarter, selling 815,151 shares and retaining 463,055 shares worth approximately $644,000. Institutional investors and hedge funds collectively own 78.54% of the company.
• Codexis shares opened at $1.31, near the lower end of their 52-week range of $0.96 to $2.98. The company reported quarterly revenue of $14.91 million and an adjusted loss of $0.13 per share, while analysts expect a full-year loss of $0.37 per share.
• Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $6.50. Ratings include two Buys, one Hold and one Sell, while Piper Sandler lowered its target to $8.00 but maintained an Overweight rating.

Assenagon Asset Management S.A. decreased its position in Codexis, Inc. (NASDAQ:CDXS - Free Report) by 63.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 463,055 shares of the biotechnology company's stock after selling 815,151 shares during the quarter. Assenagon Asset Management S.A. owned 0.42% of Codexis worth $644,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Codexis during the second quarter valued at about $16,463,000. Nantahala Capital Management LLC purchased a new position in Codexis in the second quarter valued at about $8,189,365. Man Group plc acquired a new position in shares of Codexis in the 2nd quarter valued at approximately $1,278,000. Bank of America Corp DE purchased a new position in shares of Codexis during the 2nd quarter valued at approximately $544,000. Finally, Algert Global LLC boosted its stake in shares of Codexis by 118.2% during the 2nd quarter. Algert Global LLC now owns 430,910 shares of the biotechnology company's stock valued at $974,000 after buying an additional 233,463 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company's stock.

Codexis Trading Up 1.6%

Shares of NASDAQ:CDXS opened at $1.31 on Friday. The stock has a market capitalization of $143.46 million, a price-to-earnings ratio of -3.85 and a beta of 2.55. Codexis, Inc. has a 1-year low of $0.96 and a 1-year high of $2.98. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.99 and a current ratio of 3.06. The company has a 50 day moving average price of $1.44 and a 200 day moving average price of $2.00.

Codexis (NASDAQ:CDXS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.01. The company had revenue of $14.91 million during the quarter, compared to analyst estimates of $13.82 million. Codexis had a negative net margin of 39.55% and a negative return on equity of 74.36%. On average, research analysts anticipate that Codexis, Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CDXS shares. Benchmark reiterated a "hold" rating on shares of Codexis in a research report on Thursday, August 20th. Wall Street Zen cut Codexis from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Weiss Ratings cut Codexis from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 9th. Finally, Piper Sandler decreased their price objective on shares of Codexis from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $6.50.

About Codexis

Codexis, Inc is a biotechnology company that develops enzyme-based technologies and biocatalysts for pharmaceutical, life sciences and industrial applications. Its technology is designed to help customers produce complex molecules more efficiently, with potentially improved selectivity, productivity and sustainability compared with conventional chemical manufacturing methods.

The company's core technology platform, CodeEvolver, uses protein engineering, data science and laboratory methods to develop enzymes with specific performance characteristics.

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