Pratt Collard Advisory Partners LLC Has $934,000 Stake in Codexis, Inc. (CDXS)

Pratt Collard Advisory Partners LLC lessened its position in Codexis, Inc. (NASDAQ:CDXS) by 9.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,457 shares of the biotechnology company’s stock after selling 5,550 shares during the period. Pratt Collard Advisory Partners LLC owned about 0.10% of Codexis worth $934,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northern Trust Corp lifted its position in Codexis by 34.8% during the second quarter. Northern Trust Corp now owns 580,725 shares of the biotechnology company’s stock valued at $8,362,000 after purchasing an additional 149,833 shares during the period. Bank of New York Mellon Corp lifted its position in Codexis by 17.3% during the second quarter. Bank of New York Mellon Corp now owns 204,032 shares of the biotechnology company’s stock valued at $2,939,000 after purchasing an additional 30,124 shares during the period. California Public Employees Retirement System bought a new position in Codexis during the second quarter valued at approximately $261,000. Castleark Management LLC bought a new position in Codexis during the second quarter valued at approximately $6,239,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in Codexis by 25.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 17,210 shares of the biotechnology company’s stock valued at $248,000 after purchasing an additional 3,475 shares during the period. Hedge funds and other institutional investors own 77.35% of the company’s stock.

In other Codexis news, Director Kathleen Sereda Glaub sold 14,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $18.83, for a total transaction of $272,884.36. Following the completion of the sale, the director now directly owns 63,534 shares of the company’s stock, valued at $1,196,345.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John J. Nicols sold 14,259 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $15.14, for a total transaction of $215,881.26. Following the sale, the insider now directly owns 1,084,538 shares of the company’s stock, valued at $16,419,905.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 508,329 shares of company stock valued at $8,354,797. 11.40% of the stock is owned by corporate insiders.

A number of research analysts recently weighed in on CDXS shares. Craig Hallum increased their price objective on shares of Codexis from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, September 5th. BidaskClub upgraded shares of Codexis from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Finally, Zacks Investment Research upgraded shares of Codexis from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, August 16th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $16.40.

Codexis stock traded down $0.49 during midday trading on Friday, reaching $15.33. 10,533 shares of the company traded hands, compared to its average volume of 537,786. The company has a market cap of $855.66 million, a price-to-earnings ratio of -31.80 and a beta of -2.07. Codexis, Inc. has a 12 month low of $5.70 and a 12 month high of $19.60.

Codexis (NASDAQ:CDXS) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.06. Codexis had a negative net margin of 29.83% and a negative return on equity of 61.93%. The business had revenue of $13.54 million during the quarter, compared to analysts’ expectations of $11.87 million. As a group, equities research analysts predict that Codexis, Inc. will post -0.2 earnings per share for the current fiscal year.

About Codexis

Codexis, Inc discovers, develops, and sells protein catalysts. It also offers 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 protein catalyst screening and protein engineering services.

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Institutional Ownership by Quarter for Codexis (NASDAQ:CDXS)

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