Verition Fund Management LLC Purchases Shares of 15,910 Codexis, Inc. (NASDAQ:CDXS)

Verition Fund Management LLC purchased a new stake in shares of Codexis, Inc. (NASDAQ:CDXS – Get Rating) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 15,910 shares of the biotechnology company’s stock, valued at approximately $96,000.

A number of other hedge funds also recently bought and sold shares of CDXS. Millennium Management LLC bought a new stake in Codexis during the second quarter valued at about $9,661,000. Prescott Group Capital Management L.L.C. boosted its holdings in Codexis by 732.3% during the third quarter. Prescott Group Capital Management L.L.C. now owns 532,653 shares of the biotechnology company’s stock valued at $3,228,000 after acquiring an additional 468,653 shares during the period. FMR LLC boosted its holdings in Codexis by 29.3% during the second quarter. FMR LLC now owns 1,789,377 shares of the biotechnology company’s stock valued at $18,717,000 after acquiring an additional 405,488 shares during the period. Sei Investments Co. bought a new stake in shares of Codexis in the second quarter valued at about $3,523,000. Finally, Bank of Montreal Can acquired a new stake in Codexis during the second quarter worth about $3,807,000. 93.41% of the stock is currently owned by institutional investors.

Codexis Price Performance

Shares of NASDAQ:CDXS opened at $4.12 on Friday. The business’s fifty day moving average price is $5.64 and its two-hundred day moving average price is $5.81. Codexis, Inc. has a fifty-two week low of $4.00 and a fifty-two week high of $22.22. The stock has a market capitalization of $271.71 million, a price-to-earnings ratio of -8.08 and a beta of 1.64.

Codexis (NASDAQ:CDXS – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The biotechnology company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. Codexis had a negative return on equity of 21.78% and a negative net margin of 24.24%. The firm had revenue of $30.40 million for the quarter, compared to analysts’ expectations of $28.92 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The business’s revenue was up 24.1% compared to the same quarter last year. Research analysts expect that Codexis, Inc. will post -0.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com upgraded Codexis from a “sell” rating to a “hold” rating in a research note on Tuesday, January 31st. Piper Sandler upped their target price on Codexis from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, January 19th. Finally, HC Wainwright cut their target price on Codexis from $15.00 to $9.00 in a research note on Monday, February 27th.

Insider Buying and Selling at Codexis

In other news, Director John J. Nicols sold 35,714 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $6.42, for a total transaction of $229,283.88. Following the sale, the director now owns 823,750 shares of the company’s stock, valued at $5,288,475. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Kevin Norrett sold 8,596 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $4.60, for a total transaction of $39,541.60. Following the sale, the chief operating officer now owns 97,360 shares of the company’s stock, valued at $447,856. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John J. Nicols sold 35,714 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $6.42, for a total value of $229,283.88. Following the sale, the director now directly owns 823,750 shares in the company, valued at approximately $5,288,475. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,826 shares of company stock valued at $773,384. 7.00% of the stock is currently owned by company insiders.

Codexis Profile

(Get Rating)

Codexis, Inc is an enzyme engineering company, which engages in the development and sale of therapeutics. It operates through the Performance Enzymes and Novel Biotherapeutics segments. The Performance Enzymes segment commercializes CodeEvolver protein engineering technology platform and products in the pharmaceuticals market.