Putnam Investments LLC Has $975,000 Stake in Codexis, Inc. (NASDAQ:CDXS)

Putnam Investments LLC grew its position in Codexis, Inc. (NASDAQ:CDXS – Get Rating) by 102.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,756 shares of the biotechnology company’s stock after purchasing an additional 81,205 shares during the quarter. Putnam Investments LLC’s holdings in Codexis were worth $975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC grew its position in shares of Codexis by 75.2% in the second quarter. NewEdge Advisors LLC now owns 73,727 shares of the biotechnology company’s stock valued at $771,000 after purchasing an additional 31,647 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Codexis by 13.5% in the third quarter. Cubist Systematic Strategies LLC now owns 361,401 shares of the biotechnology company’s stock valued at $2,190,000 after purchasing an additional 42,933 shares during the last quarter. Silverarc Capital Management LLC boosted its stake in shares of Codexis by 5.4% in the third quarter. Silverarc Capital Management LLC now owns 145,437 shares of the biotechnology company’s stock valued at $881,000 after buying an additional 7,477 shares during the period. Trexquant Investment LP bought a new stake in shares of Codexis in the second quarter valued at approximately $142,000. Finally, Virtus ETF Advisers LLC boosted its stake in shares of Codexis by 132.7% in the second quarter. Virtus ETF Advisers LLC now owns 11,691 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 6,668 shares during the period. Institutional investors and hedge funds own 93.41% of the company’s stock.

Insider Activity

In other news, Director John J. Nicols sold 35,714 shares of the stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $6.42, for a total value of $229,283.88. Following the completion of the transaction, the director now directly owns 823,750 shares in the company, valued at approximately $5,288,475. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John J. Nicols sold 35,714 shares of the stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $6.42, for a total value of $229,283.88. Following the completion of the transaction, the director now directly owns 823,750 shares in the company, valued at approximately $5,288,475. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen George Dilly sold 28,088 shares of the stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $4.60, for a total value of $129,204.80. Following the completion of the transaction, the insider now owns 407,386 shares of the company’s stock, valued at $1,873,975.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,112 shares of company stock worth $570,529. Insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Codexis Price Performance

NASDAQ CDXS opened at $4.22 on Tuesday. The business has a fifty day moving average price of $5.63 and a two-hundred day moving average price of $5.77. Codexis, Inc. has a fifty-two week low of $3.98 and a fifty-two week high of $22.22. The stock has a market capitalization of $278.31 million, a PE ratio of -8.27 and a beta of 1.64.

Codexis (NASDAQ:CDXS – Get Rating) last released its earnings results on Thursday, February 23rd. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $28.92 million. During the same period in the prior year, the company earned ($0.16) earnings per share. The company’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, sell-side analysts expect that Codexis, Inc. will post -0.89 earnings per share for the current year.

Codexis Profile

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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.