Jacobs Levy Equity Management Inc. Buys 209,298 Shares of Codexis, Inc. $CDXS

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Codexis, Inc. by 24.3% during Q1, owning approximately 1.29% of the company worth $2.88 million.
• Institutional investors collectively own 78.54% of Codexis, indicating strong institutional interest in the company.
• After reporting earnings exceeding analyst estimates, Codexis currently holds a consensus rating of "Moderate Buy" with an average price target of $11.00.

Jacobs Levy Equity Management Inc. lifted its position in shares of Codexis, Inc. (NASDAQ:CDXS - Free Report) by 24.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,070,253 shares of the biotechnology company's stock after purchasing an additional 209,298 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.29% of Codexis worth $2,879,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of Codexis by 109.2% in the first quarter. Assenagon Asset Management S.A. now owns 602,288 shares of the biotechnology company's stock worth $1,620,000 after buying an additional 314,424 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Codexis by 37.1% in the fourth quarter. Deutsche Bank AG now owns 48,172 shares of the biotechnology company's stock worth $230,000 after buying an additional 13,038 shares during the last quarter. Northern Trust Corp increased its stake in shares of Codexis by 16.7% in the fourth quarter. Northern Trust Corp now owns 688,189 shares of the biotechnology company's stock worth $3,283,000 after buying an additional 98,256 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Codexis by 37.0% in the fourth quarter. Bank of America Corp DE now owns 76,305 shares of the biotechnology company's stock worth $364,000 after buying an additional 20,589 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Codexis by 11,125.0% in the first quarter. US Bancorp DE now owns 17,960 shares of the biotechnology company's stock worth $48,000 after buying an additional 17,800 shares during the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Codexis from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Codexis has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Codexis Stock Down 1.4%

Shares of CDXS traded down $0.04 during trading hours on Monday, reaching $2.40. The company's stock had a trading volume of 112,711 shares, compared to its average volume of 908,175. The company has a 50 day moving average of $2.80 and a two-hundred day moving average of $2.57. Codexis, Inc. has a 1-year low of $1.90 and a 1-year high of $6.08. The firm has a market cap of $216.20 million, a price-to-earnings ratio of -2.89 and a beta of 2.54. The company has a quick ratio of 5.70, a current ratio of 5.82 and a debt-to-equity ratio of 0.71.

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

About Codexis

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.