Millennium Management LLC Decreases Stock Holdings in Codexis, Inc. (NASDAQ:CDXS)

Millennium Management LLC cut its stake in shares of Codexis, Inc. (NASDAQ:CDXS - Free Report) by 97.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,931 shares of the biotechnology company's stock after selling 1,364,128 shares during the quarter. Millennium Management LLC's holdings in Codexis were worth $171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Codexis by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 4,463,801 shares of the biotechnology company's stock valued at $21,292,000 after buying an additional 311,082 shares during the last quarter. Telemark Asset Management LLC lifted its holdings in Codexis by 11.3% in the 4th quarter. Telemark Asset Management LLC now owns 3,000,000 shares of the biotechnology company's stock worth $14,310,000 after purchasing an additional 303,589 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Codexis by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 2,399,650 shares of the biotechnology company's stock worth $11,446,000 after purchasing an additional 12,625 shares during the last quarter. Geode Capital Management LLC increased its stake in Codexis by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 1,855,514 shares of the biotechnology company's stock worth $8,853,000 after acquiring an additional 211,475 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Codexis by 1.7% during the fourth quarter. Federated Hermes Inc. now owns 1,278,126 shares of the biotechnology company's stock valued at $6,097,000 after purchasing an additional 21,767 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company's stock.

Codexis Price Performance

Shares of Codexis stock traded down $0.02 on Friday, hitting $2.23. The company's stock had a trading volume of 719,409 shares, compared to its average volume of 710,616. The company has a market capitalization of $184.74 million, a price-to-earnings ratio of -2.56 and a beta of 2.52. The firm has a fifty day moving average price of $2.33 and a 200-day moving average price of $3.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21. Codexis, Inc. has a 1 year low of $1.90 and a 1 year high of $6.08.

Codexis (NASDAQ:CDXS - Get Free Report) last posted its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.05). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The business had revenue of $7.54 million for the quarter, compared to analyst estimates of $10.38 million. As a group, sell-side analysts anticipate that Codexis, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Codexis to a "sell" rating in a research report on Friday, May 16th.

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.