Jacobs Levy Equity Management Inc. Decreases Stock Holdings in Codexis, Inc. (NASDAQ:CDXS)

Jacobs Levy Equity Management Inc. decreased its position in shares of Codexis, Inc. (NASDAQ:CDXS - Free Report) by 11.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 895,695 shares of the biotechnology company's stock after selling 114,194 shares during the period. Jacobs Levy Equity Management Inc. owned 1.10% of Codexis worth $2,759,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC raised its position in shares of Codexis by 1.3% during the 3rd quarter. Private Advisor Group LLC now owns 278,699 shares of the biotechnology company's stock valued at $858,000 after purchasing an additional 3,458 shares during the period. Rhumbline Advisers raised its holdings in Codexis by 3.8% during the second quarter. Rhumbline Advisers now owns 108,594 shares of the biotechnology company's stock valued at $337,000 after acquiring an additional 4,017 shares during the period. Perkins Capital Management Inc. raised its holdings in Codexis by 2.8% during the third quarter. Perkins Capital Management Inc. now owns 164,100 shares of the biotechnology company's stock valued at $505,000 after acquiring an additional 4,500 shares during the period. Algert Global LLC lifted its position in shares of Codexis by 17.1% in the second quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company's stock valued at $129,000 after acquiring an additional 6,069 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Codexis by 72.6% in the second quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company's stock worth $114,000 after acquiring an additional 15,425 shares during the period. Hedge funds and other institutional investors own 78.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CDXS shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $11.00 price target on shares of Codexis in a report on Friday, November 22nd. Benchmark reiterated a "hold" rating on shares of Codexis in a research report on Monday, November 4th.

Codexis Price Performance

Shares of CDXS stock traded up $0.10 during trading hours on Friday, hitting $4.73. The stock had a trading volume of 361,062 shares, compared to its average volume of 607,981. The stock has a market capitalization of $384.93 million, a price-to-earnings ratio of -5.44 and a beta of 2.15. Codexis, Inc. has a one year low of $1.85 and a one year high of $4.99. The stock's 50-day moving average price is $3.74 and its two-hundred day moving average price is $3.33. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.21 and a quick ratio of 3.15.

Codexis (NASDAQ:CDXS - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $12.83 million for the quarter, compared to analysts' expectations of $11.64 million. During the same period last year, the company posted ($0.26) earnings per share. Equities analysts forecast that Codexis, Inc. will post -0.77 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. acquired 61,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The shares were acquired at an average cost of $3.16 per share, with a total value of $192,760.00. Following the completion of the acquisition, the insider now directly owns 7,380,000 shares in the company, valued at approximately $23,320,800. This trade represents a 0.83 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have acquired 1,166,000 shares of company stock worth $3,514,910. 2.10% of the stock is owned by corporate insiders.

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.