Codexis, Inc. (NASDAQ:CDXS) Director Sells $229,283.88 in Stock

Codexis, Inc. (NASDAQ:CDXSGet Rating) Director John J. Nicols sold 35,714 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $6.42, for a total transaction of $229,283.88. Following the sale, the director now owns 823,750 shares of the company’s stock, valued at approximately $5,288,475. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Codexis Price Performance

Shares of CDXS stock traded up $0.26 during trading hours on Wednesday, reaching $6.61. The stock had a trading volume of 592,520 shares, compared to its average volume of 808,089. The stock’s fifty day simple moving average is $5.40 and its 200 day simple moving average is $6.44. Codexis, Inc. has a 12 month low of $4.21 and a 12 month high of $22.22.

Codexis (NASDAQ:CDXSGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The biotechnology company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. Codexis had a negative net margin of 23.49% and a negative return on equity of 19.59%. The company had revenue of $34.47 million during the quarter, compared to analyst estimates of $31.41 million. As a group, sell-side analysts predict that Codexis, Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Codexis

Several hedge funds have recently bought and sold shares of CDXS. Jacobs Levy Equity Management Inc. bought a new stake in Codexis during the third quarter valued at approximately $8,046,000. Allspring Global Investments Holdings LLC lifted its position in Codexis by 44.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,018,847 shares of the biotechnology company’s stock valued at $31,576,000 after purchasing an additional 926,159 shares during the last quarter. Millennium Management LLC bought a new stake in Codexis during the second quarter valued at approximately $9,661,000. Assenagon Asset Management S.A. lifted its position in Codexis by 151.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,489,025 shares of the biotechnology company’s stock valued at $15,575,000 after purchasing an additional 897,058 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. lifted its position in Codexis by 732.3% during the third quarter. Prescott Group Capital Management L.L.C. now owns 532,653 shares of the biotechnology company’s stock valued at $3,228,000 after purchasing an additional 468,653 shares during the last quarter. 93.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. HC Wainwright reduced their target price on shares of Codexis from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, November 7th. StockNews.com downgraded shares of Codexis from a “hold” rating to a “sell” rating in a research note on Monday, January 16th. Finally, Piper Sandler lifted their target price on shares of Codexis from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, January 19th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.83.

Codexis Company Profile

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Codexis, Inc discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services.

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