Baillie Gifford & Co. Sells 895,002 Shares of Codexis, Inc. (NASDAQ:CDXS)

Baillie Gifford & Co. reduced its holdings in shares of Codexis, Inc. (NASDAQ:CDXS - Free Report) by 33.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,813,800 shares of the biotechnology company's stock after selling 895,002 shares during the quarter. Baillie Gifford & Co. owned about 2.23% of Codexis worth $5,587,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CDXS. Los Angeles Capital Management LLC purchased a new stake in shares of Codexis during the 2nd quarter valued at approximately $54,000. Marshall Wace LLP purchased a new stake in Codexis in the 2nd quarter worth approximately $89,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Codexis in the 1st quarter worth approximately $97,000. State Board of Administration of Florida Retirement System lifted its stake in Codexis by 57.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company's stock worth $99,000 after purchasing an additional 10,395 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Codexis by 72.6% in the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company's stock worth $114,000 after purchasing an additional 15,425 shares in the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CDXS. Benchmark reiterated a "hold" rating on shares of Codexis in a research note on Monday, November 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $11.00 target price on shares of Codexis in a report on Friday, September 20th.

Codexis Trading Down 2.7 %

CDXS traded down $0.11 during trading on Thursday, hitting $3.93. 261,770 shares of the stock traded hands, compared to its average volume of 535,136. The firm has a market capitalization of $319.82 million, a P/E ratio of -4.64 and a beta of 2.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.21 and a quick ratio of 3.15. The firm has a 50-day moving average of $3.22 and a 200 day moving average of $3.22. Codexis, Inc. has a 12-month low of $1.85 and a 12-month high of $4.91.

Codexis (NASDAQ:CDXS - Get Free Report) last posted its earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The company had revenue of $12.83 million during the quarter, compared to analysts' expectations of $11.64 million. During the same period in the prior year, the business posted ($0.26) earnings per share. Equities research analysts anticipate that Codexis, Inc. will post -0.76 EPS for the current year.

Insider Transactions at Codexis

In related news, major shareholder Opaleye Management Inc. bought 45,000 shares of the company's stock in a transaction dated Monday, September 23rd. The stock was purchased at an average cost of $2.94 per share, with a total value of $132,300.00. Following the transaction, the insider now owns 8,435,000 shares in the company, valued at approximately $24,798,900. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders purchased 1,166,000 shares of company stock valued at $3,514,910. Company insiders own 2.10% of the company's stock.

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.