Federated Hermes Inc. Trims Holdings in Codexis, Inc. (NASDAQ:CDXS)

Federated Hermes Inc. decreased its position in shares of Codexis, Inc. (NASDAQ:CDXS) by 7.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,254,465 shares of the biotechnology company’s stock after selling 97,415 shares during the period. Federated Hermes Inc. owned 1.78% of Codexis worth $3,889,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in Codexis during the 2nd quarter valued at approximately $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Codexis during the first quarter valued at $97,000. State Board of Administration of Florida Retirement System increased its holdings 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 valued at $99,000 after acquiring an additional 10,395 shares during the last quarter. 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. Finally, Aristides Capital LLC bought a new position in shares of Codexis during the 4th quarter valued at about $189,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Stock Up 3.2 %

Shares of NASDAQ:CDXS opened at $3.21 on Friday. The company has a 50-day moving average price of $3.11 and a 200 day moving average price of $3.20. The company has a current ratio of 2.99, a quick ratio of 2.92 and a debt-to-equity ratio of 0.46. Codexis, Inc. has a 12 month low of $1.45 and a 12 month high of $4.91. The company has a market cap of $226.49 million, a price-to-earnings ratio of -3.45 and a beta of 2.07.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $7.98 million during the quarter, compared to the consensus estimate of $7.64 million. Codexis had a negative net margin of 125.41% and a negative return on equity of 64.06%. During the same period in the previous year, the business earned ($0.17) earnings per share. As a group, equities research analysts predict that Codexis, Inc. will post -0.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Opaleye Management Inc. bought 61,000 shares of Codexis stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average price of $3.16 per share, with a total value of $192,760.00. Following the completion of the purchase, the insider now owns 7,380,000 shares in the company, valued at approximately $23,320,800. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

CDXS has been the topic of a number of research analyst reports. Benchmark downgraded Codexis from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of Codexis in a report on Thursday, August 29th. Finally, Jefferies Financial Group initiated coverage on Codexis in a research report on Monday, June 3rd. They set a “buy” rating and a $5.00 target price for the company. One 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.75.

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.