Telemark Asset Management LLC Increases Stock Position in Codexis, Inc. $CDXS

by · The Cerbat Gem

Telemark Asset Management LLC lifted its position in shares of Codexis, Inc. (NASDAQ:CDXS – Free Report) by 33.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,000,000 shares of the biotechnology company’s stock after purchasing an additional 1,000,000 shares during the period. Telemark Asset Management LLC owned 4.83% of Codexis worth $9,760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDXS. Aberdeen Group plc increased its stake in Codexis by 592.9% in the 2nd quarter. Aberdeen Group plc now owns 4,200,950 shares of the biotechnology company’s stock valued at $10,250,000 after buying an additional 3,594,656 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Codexis by 2.7% in the second quarter. Geode Capital Management LLC now owns 1,977,869 shares of the biotechnology company’s stock valued at $4,827,000 after acquiring an additional 52,588 shares in the last quarter. Pier Capital LLC grew its holdings in shares of Codexis by 14.7% in the second quarter. Pier Capital LLC now owns 1,915,160 shares of the biotechnology company’s stock valued at $4,673,000 after acquiring an additional 245,956 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Codexis by 0.3% during the first quarter. Baillie Gifford & Co. now owns 1,699,644 shares of the biotechnology company’s stock valued at $4,572,000 after acquiring an additional 5,619 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Codexis during the first quarter worth $3,358,000. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Codexis in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Codexis from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.00.

Read Our Latest Research Report on CDXS

Codexis Stock Performance

NASDAQ CDXS opened at $1.57 on Friday. The firm has a market cap of $141.81 million, a P/E ratio of -1.89 and a beta of 2.57. The company has a quick ratio of 5.70, a current ratio of 5.82 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $2.34 and its 200-day moving average is $2.52. Codexis, Inc. has a 12-month low of $1.55 and a 12-month high of $6.08.

Codexis (NASDAQ:CDXS – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.07). The company had revenue of $8.60 million for the quarter, compared to the consensus estimate of $18.52 million. Codexis had a negative net margin of 113.67% and a negative return on equity of 105.83%. Sell-side analysts predict that Codexis, Inc. will post -0.77 earnings per share for the current year.

Codexis Company Profile

(Free Report)

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.

See Also

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