Baillie Gifford & Co. Sells 895,002 Shares of Codexis, Inc. (NASDAQ:CDXS)

Baillie Gifford & Co. cut its holdings in shares of Codexis, Inc. (NASDAQ:CDXS) by 33.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,813,800 shares of the biotechnology company’s stock after selling 895,002 shares during the period. Baillie Gifford & Co.’s holdings in Codexis were worth $5,587,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CDXS. Assenagon Asset Management S.A. lifted its holdings in shares of Codexis by 23.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company’s stock worth $3,399,000 after purchasing an additional 209,207 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Codexis during the 1st quarter worth about $97,000. abrdn plc grew its position in shares of Codexis by 62.5% in the 3rd quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock valued at $2,465,000 after buying an additional 307,762 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Codexis by 12.8% in the second quarter. Bank of New York Mellon Corp now owns 284,166 shares of the biotechnology company’s stock valued at $881,000 after buying an additional 32,138 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Codexis by 455.1% in the first quarter. BNP Paribas Financial Markets now owns 101,771 shares of the biotechnology company’s stock valued at $355,000 after buying an additional 83,436 shares during the period. 78.54% of the stock is owned by institutional investors.

Codexis Stock Up 0.5 %

Shares of Codexis stock opened at $4.04 on Thursday. The firm has a market cap of $328.78 million, a price-to-earnings ratio of -4.64 and a beta of 2.07. The stock’s 50-day moving average is $3.22 and its 200 day moving average is $3.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.21 and a quick ratio of 3.15. Codexis, Inc. has a one year low of $1.72 and a one year high of $4.91.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The company had revenue of $12.83 million for the quarter, compared to analyst estimates of $11.64 million. During the same period last year, the business earned ($0.26) EPS. Equities research analysts anticipate that Codexis, Inc. will post -0.76 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. acquired 1,055,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were bought at an average price of $3.01 per share, with a total value of $3,175,550.00. Following the transaction, the insider now directly owns 8,390,000 shares of the company’s stock, valued at $25,253,900. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 1,166,000 shares of company stock worth $3,514,910. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on CDXS. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 target price on shares of Codexis in a report on Friday, September 20th. Benchmark reaffirmed a “hold” rating on shares of Codexis in a research note on Monday, November 4th.

About Codexis

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.