Man Group plc Invests $1.28 Million in Codexis, Inc. $CDXS

Man Group plc purchased a new position in shares of Codexis, Inc. (NASDAQ:CDXS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 565,593 shares of the biotechnology company’s stock, valued at approximately $1,278,000. Man Group plc owned 0.52% of Codexis as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Codexis by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 209,645 shares of the biotechnology company’s stock valued at $342,000 after buying an additional 4,896 shares during the period. Krilogy Financial LLC boosted its stake in shares of Codexis by 20.5% during the 1st quarter. Krilogy Financial LLC now owns 36,257 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 6,156 shares during the period. Bridgeway Capital Management LLC grew its holdings in shares of Codexis by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 100,908 shares of the biotechnology company’s stock valued at $246,000 after acquiring an additional 6,300 shares in the last quarter. Brevan Howard Capital Management LP increased its stake in shares of Codexis by 16.0% in the third quarter. Brevan Howard Capital Management LP now owns 48,734 shares of the biotechnology company’s stock worth $119,000 after acquiring an additional 6,705 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Codexis by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 16,608 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 8,038 shares during the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.

Codexis Stock Down 2.3%

Shares of CDXS stock opened at $1.48 on Thursday. The stock’s 50 day simple moving average is $1.87 and its 200 day simple moving average is $2.01. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.99 and a current ratio of 3.06. Codexis, Inc. has a twelve month low of $0.96 and a twelve month high of $2.98. The company has a market capitalization of $161.53 million, a price-to-earnings ratio of -4.34 and a beta of 2.52.

Codexis (NASDAQ:CDXS) last announced its earnings results on Tuesday, August 11th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. Codexis had a negative return on equity of 74.36% and a negative net margin of 39.55%.The firm had revenue of $14.91 million during the quarter, compared to analysts’ expectations of $13.82 million. As a group, research analysts predict that Codexis, Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen cut Codexis from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Codexis in a research report on Wednesday, June 17th. Weiss Ratings raised Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. Piper Sandler reduced their price target on Codexis from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Finally, Benchmark reissued a “hold” rating on shares of Codexis in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.50.

About Codexis

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.