Inspire Investing LLC Increases Stock Holdings in Codexis, Inc. $CDXS

by · The Markets Daily

Inspire Investing LLC lifted its position in Codexis, Inc. (NASDAQ:CDXS – Free Report) by 29.2% in the second quarter, HoldingsChannel reports. The firm owned 162,912 shares of the biotechnology company’s stock after buying an additional 36,809 shares during the period. Inspire Investing LLC’s holdings in Codexis were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. raised its holdings in Codexis by 0.3% in the 1st quarter. Baillie Gifford & Co. now owns 1,699,644 shares of the biotechnology company’s stock valued at $4,572,000 after buying an additional 5,619 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Codexis by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 250,250 shares of the biotechnology company’s stock valued at $673,000 after buying an additional 10,530 shares during the period. Integrity Alliance LLC. purchased a new stake in Codexis in the 1st quarter valued at about $30,000. US Bancorp DE raised its holdings in Codexis by 11,125.0% in the 1st quarter. US Bancorp DE now owns 17,960 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 17,800 shares during the period. Finally, Clough Capital Partners L P raised its holdings in Codexis by 93.8% in the 1st quarter. Clough Capital Partners L P now owns 69,000 shares of the biotechnology company’s stock valued at $186,000 after buying an additional 33,400 shares during the period. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Stock Down 3.5%

Shares of NASDAQ:CDXS opened at $2.50 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 5.82 and a quick ratio of 5.70. The firm has a market capitalization of $225.68 million, a PE ratio of -3.01 and a beta of 2.50. The firm’s 50-day moving average is $2.63 and its two-hundred day moving average is $2.53. Codexis, Inc. has a 1 year low of $1.90 and a 1 year high of $6.08.

Codexis (NASDAQ:CDXS – Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The company had revenue of $15.33 million for the quarter, compared to analyst estimates of $14.18 million. Codexis had a negative net margin of 113.67% and a negative return on equity of 105.83%. Analysts predict that Codexis, Inc. will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

CDXS has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Codexis from a “strong sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Codexis in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.00.

Read Our Latest Report on Codexis

About Codexis

(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.

Further Reading

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