Strs Ohio Buys New Position in Codexis, Inc. $CDXS

Key Points

• Strs Ohio has acquired a new stake in Codexis, Inc., purchasing 107,100 shares valued at approximately $288,000, indicating growing institutional interest in the biotechnology firm.
• Codexis reported earnings of ($0.16) EPS for the last quarter, slightly surpassing analyst expectations, with a revenue of $15.33 million compared to estimates of $14.18 million.
• Analysts have raised Codexis from a "strong sell" to a "hold" rating, with an average price target of $11.00, reflecting a cautious optimism toward the stock's future performance.

Strs Ohio bought a new stake in shares of Codexis, Inc. (NASDAQ:CDXS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 107,100 shares of the biotechnology company's stock, valued at approximately $288,000. Strs Ohio owned 0.13% of Codexis at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Integrity Alliance LLC. purchased a new position in Codexis during the 1st quarter valued at about $30,000. Jacobs Levy Equity Management Inc. grew 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 worth $2,879,000 after buying an additional 209,298 shares in the last quarter. Royal Bank of Canada grew its position in shares of Codexis by 24.9% during the first quarter. Royal Bank of Canada now owns 437,126 shares of the biotechnology company's stock worth $1,176,000 after buying an additional 87,044 shares in the last quarter. Clough Capital Partners L P grew its position in shares of Codexis by 93.8% during the first quarter. Clough Capital Partners L P now owns 69,000 shares of the biotechnology company's stock worth $186,000 after buying an additional 33,400 shares in the last quarter. Finally, Mink Brook Asset Management LLC acquired a new position in shares of Codexis during the first quarter worth about $341,000. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

Codexis Trading Down 2.4%

NASDAQ:CDXS opened at $2.46 on Wednesday. The firm has a market cap of $222.06 million, a P/E 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. The stock's 50 day simple moving average is $2.74 and its 200-day simple moving average is $2.56. Codexis, Inc. has a 12-month low of $1.90 and a 12-month high of $6.08.

Codexis (NASDAQ:CDXS - Get Free Report) last released its earnings results on Wednesday, August 13th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.01. The business had revenue of $15.33 million for the quarter, compared to analyst estimates of $14.18 million. Codexis had a negative return on equity of 105.83% and a negative net margin of 113.67%. Equities analysts anticipate that Codexis, Inc. will post -0.77 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Codexis from a "strong sell" rating to a "hold" rating in a research report 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. Based on data from MarketBeat, Codexis presently has an average rating of "Moderate Buy" and an average price target of $11.00.

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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