Codexis, Inc. $CDXS Stake Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in Codexis, Inc. (NASDAQ:CDXS) by 73.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,733 shares of the biotechnology company’s stock after selling 538,752 shares during the period. Renaissance Technologies LLC owned about 0.22% of Codexis worth $324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Millennium Management LLC raised its position in Codexis by 3,376.5% during the third quarter. Millennium Management LLC now owns 4,067,559 shares of the biotechnology company’s stock valued at $9,925,000 after buying an additional 3,950,557 shares during the period. Opaleye Management Inc. boosted its position in Codexis by 32.6% during the 2nd quarter. Opaleye Management Inc. now owns 12,600,000 shares of the biotechnology company’s stock worth $30,744,000 after acquiring an additional 3,100,000 shares during the period. Prescott Group Capital Management L.L.C. grew its stake in Codexis by 304.1% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 2,568,359 shares of the biotechnology company’s stock valued at $4,186,000 after acquiring an additional 1,932,814 shares in the last quarter. Nantahala Capital Management LLC grew its stake in Codexis by 42.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,030,619 shares of the biotechnology company’s stock valued at $9,835,000 after acquiring an additional 1,200,000 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Codexis in the 4th quarter valued at about $699,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Codexis Stock Performance

Shares of NASDAQ CDXS opened at $1.50 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.06 and a quick ratio of 2.99. Codexis, Inc. has a one year low of $0.96 and a one year high of $3.06. The business’s 50-day moving average price is $2.05 and its two-hundred day moving average price is $1.98. The company has a market capitalization of $164.26 million, a P/E ratio of -4.41 and a beta of 2.54.

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

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.