Codexis, Inc. (NASDAQ:CDXS) Director Sells $229,283.88 in Stock

Codexis, Inc. (NASDAQ:CDXS – Get Rating) Director John J. Nicols sold 35,714 shares of the business’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $6.42, for a total transaction of $229,283.88. Following the transaction, the director now directly owns 823,750 shares in the company, valued at $5,288,475. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Codexis Stock Performance

Codexis stock traded up $0.26 during mid-day trading on Wednesday, reaching $6.61. The stock had a trading volume of 592,520 shares, compared to its average volume of 808,089. The company has a 50-day moving average price of $5.40 and a two-hundred day moving average price of $6.44. Codexis, Inc. has a one year low of $4.21 and a one year high of $22.22.

Codexis (NASDAQ:CDXS – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $34.47 million for the quarter, compared to analysts’ expectations of $31.41 million. Codexis had a negative net margin of 23.49% and a negative return on equity of 19.59%. Sell-side analysts anticipate that Codexis, Inc. will post -0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CDXS. Piper Sandler boosted their price objective on shares of Codexis from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, January 19th. StockNews.com downgraded shares of Codexis from a “hold” rating to a “sell” rating in a research report on Monday, January 16th. Finally, HC Wainwright reduced their target price on shares of Codexis from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, November 7th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.83.

Hedge Funds Weigh In On Codexis

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Codexis by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 52,116 shares of the biotechnology company’s stock valued at $1,075,000 after acquiring an additional 8,870 shares during the period. Bank of New York Mellon Corp lifted its stake in Codexis by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 220,879 shares of the biotechnology company’s stock valued at $4,554,000 after acquiring an additional 1,618 shares during the period. US Bancorp DE lifted its stake in Codexis by 517.5% during the 1st quarter. US Bancorp DE now owns 8,380 shares of the biotechnology company’s stock valued at $172,000 after acquiring an additional 7,023 shares during the period. MetLife Investment Management LLC lifted its stake in Codexis by 55.6% during the 1st quarter. MetLife Investment Management LLC now owns 32,963 shares of the biotechnology company’s stock valued at $680,000 after acquiring an additional 11,784 shares during the period. Finally, BlackRock Inc. lifted its stake in Codexis by 0.7% during the 1st quarter. BlackRock Inc. now owns 5,183,443 shares of the biotechnology company’s stock valued at $106,885,000 after acquiring an additional 38,494 shares during the period. Institutional investors own 93.41% of the company’s stock.

About Codexis

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Codexis, Inc discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services.