Opaleye Management Inc. Has $4.46 Million Stock Holdings in Codexis, Inc. (NASDAQ:CDXS)

Opaleye Management Inc. lowered its position in Codexis, Inc. (NASDAQ:CDXS – Get Rating) by 17.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 957,500 shares of the biotechnology company’s stock after selling 197,500 shares during the quarter. Codexis makes up about 1.6% of Opaleye Management Inc.’s investment portfolio, making the stock its 20th largest holding. Opaleye Management Inc. owned 1.46% of Codexis worth $4,462,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Codexis in the 1st quarter valued at about $33,000. Tower Research Capital LLC TRC raised its stake in shares of Codexis by 133.4% during the third quarter. Tower Research Capital LLC TRC now owns 6,007 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 3,433 shares during the last quarter. Parian Global Management LP bought a new position in Codexis during the 3rd quarter worth $53,000. Landscape Capital Management L.L.C. bought a new position in shares of Codexis during the fourth quarter worth about $57,000. Finally, UBS Group AG raised its holdings in Codexis by 1,209.5% during the 3rd quarter. UBS Group AG now owns 12,650 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 11,684 shares during the last quarter. Institutional investors and hedge funds own 93.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CDXS. HC Wainwright downgraded shares of Codexis from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 9th. Piper Sandler decreased their target price on shares of Codexis from $21.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, April 17th. Benchmark decreased their price objective on Codexis from $15.00 to $9.00 in a report on Tuesday, May 9th. Finally, StockNews.com upgraded Codexis from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th.

Insider Activity at Codexis

In other news, Director John J. Nicols sold 35,714 shares of the stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $4.14, for a total transaction of $147,855.96. Following the completion of the transaction, the director now directly owns 783,965 shares of the company’s stock, valued at approximately $3,245,615.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Kevin Norrett sold 8,596 shares of the stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $4.60, for a total transaction of $39,541.60. Following the completion of the transaction, the chief operating officer now owns 97,360 shares in the company, valued at approximately $447,856. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John J. Nicols sold 35,714 shares of the stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $4.14, for a total transaction of $147,855.96. Following the transaction, the director now owns 783,965 shares of the company’s stock, valued at approximately $3,245,615.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,112 shares of company stock worth $462,673. 7.00% of the stock is owned by company insiders.

Codexis Stock Down 0.8 %

Codexis stock traded down $0.02 during midday trading on Friday, hitting $2.46. 468,969 shares of the stock were exchanged, compared to its average volume of 701,171. Codexis, Inc. has a 52-week low of $2.41 and a 52-week high of $13.03. The business’s 50-day moving average price is $3.68 and its 200-day moving average price is $4.85. The stock has a market capitalization of $164.25 million, a price-to-earnings ratio of -3.38 and a beta of 1.65.

Codexis (NASDAQ:CDXS – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). The firm had revenue of $12.98 million during the quarter, compared to the consensus estimate of $14.09 million. Codexis had a negative return on equity of 32.75% and a negative net margin of 41.17%. The company’s revenue for the quarter was down 63.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) earnings per share. On average, sell-side analysts predict that Codexis, Inc. will post -0.91 earnings per share for the current fiscal year.

About Codexis

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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.