abrdn plc Grows Stock Holdings in Codexis, Inc. (NASDAQ:CDXS)

abrdn plc increased its stake in Codexis, Inc. (NASDAQ:CDXS - Free Report) by 62.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 800,410 shares of the biotechnology company's stock after buying an additional 307,762 shares during the period. abrdn plc owned 1.13% of Codexis worth $2,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDXS. Los Angeles Capital Management LLC bought a new position in shares of Codexis in the 2nd quarter worth $54,000. Marshall Wace LLP purchased a new stake in Codexis during the second quarter valued at approximately $89,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Codexis in the first quarter valued at approximately $97,000. State Board of Administration of Florida Retirement System grew its holdings in Codexis by 57.4% in the first 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 during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Codexis by 72.6% during the second 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. Institutional investors own 78.54% of the company's stock.

Insider Activity at Codexis

In other news, major shareholder Opaleye Management Inc. bought 1,055,000 shares of the business's stock in a transaction dated Friday, September 20th. The shares were acquired at an average price of $3.01 per share, for a total transaction of $3,175,550.00. Following the completion of the transaction, the insider now owns 8,390,000 shares of the company's stock, valued at approximately $25,253,900. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have bought 1,166,000 shares of company stock worth $3,514,910. 2.10% of the stock is currently owned by company insiders.

Codexis Price Performance

Shares of NASDAQ CDXS traded up $0.34 during midday trading on Tuesday, hitting $3.83. The stock had a trading volume of 668,352 shares, compared to its average volume of 531,467. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. Codexis, Inc. has a 1 year low of $1.51 and a 1 year high of $4.91. The company has a market capitalization of $311.69 million, a PE ratio of -4.29 and a beta of 2.07. The stock has a 50 day simple moving average of $3.06 and a 200-day simple moving average of $3.16.

Codexis (NASDAQ:CDXS - Get Free Report) last released its 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). The business had revenue of $12.83 million for the quarter, compared to analysts' expectations of $11.64 million. Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. During the same period in the previous year, the company earned ($0.26) EPS. On average, sell-side analysts expect that Codexis, Inc. will post -0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 price target on shares of Codexis in a report on Friday, September 20th. Benchmark reaffirmed a "hold" rating on shares of Codexis in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.75.

About Codexis

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.