Perkins Capital Management Inc. Has $858,000 Position in Codexis, Inc. (NASDAQ:CDXS)

Key Points

• Perkins Capital Management Inc. increased its stake in Codexis by 69.3% in the first quarter, acquiring an additional 130,450 shares to own a total of 318,800 shares valued at approximately $858,000.
• Codexis reported a loss of $0.25 per share for the last quarter, missing analysts' expectations, with revenues of $7.54 million compared to projected revenues of $10.38 million.
• Despite the recent share purchases, Wall Street Zen downgraded Codexis to a "sell" rating, indicating a lack of confidence in the company's near-term potential.

Perkins Capital Management Inc. grew its holdings in Codexis, Inc. (NASDAQ:CDXS - Free Report) by 69.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 318,800 shares of the biotechnology company's stock after purchasing an additional 130,450 shares during the period. Perkins Capital Management Inc. owned about 0.38% of Codexis worth $858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its holdings in shares of Codexis by 81.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,428 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 3,783 shares during the last quarter. Wolverine Trading LLC acquired a new stake in shares of Codexis in the fourth quarter valued at approximately $56,000. Fiduciary Trust Co acquired a new stake in shares of Codexis in the fourth quarter valued at approximately $65,000. Group One Trading LLC acquired a new stake in shares of Codexis in the fourth quarter valued at approximately $73,000. Finally, ProShare Advisors LLC raised its holdings in shares of Codexis by 101.1% in the fourth quarter. ProShare Advisors LLC now owns 26,543 shares of the biotechnology company's stock valued at $127,000 after purchasing an additional 13,344 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Codexis Stock Down 3.0%

CDXS traded down $0.09 during trading on Thursday, reaching $2.71. 491,708 shares of the stock were exchanged, compared to its average volume of 857,740. The stock has a market cap of $224.11 million, a P/E ratio of -2.74 and a beta of 2.52. Codexis, Inc. has a twelve month low of $1.90 and a twelve month high of $6.08. The stock's 50 day moving average price is $2.60 and its two-hundred day moving average price is $2.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.64 and a current ratio of 3.72.

Codexis (NASDAQ:CDXS - Get Free Report) last issued its 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 firm had revenue of $7.54 million for the quarter, compared to analyst estimates of $10.38 million. Codexis had a negative return on equity of 118.47% and a negative net margin of 149.47%. Equities analysts expect that Codexis, Inc. will post -0.77 EPS for the current 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.