Codexis (NASDAQ:CDXS) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Codexis (NASDAQ:CDXS) issued its earnings results on Wednesday. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.10, FiscalAI reports. Codexis had a negative net margin of 120.82% and a negative return on equity of 121.39%. The business had revenue of $38.92 million for the quarter, compared to analyst estimates of $35.83 million.

Codexis Stock Performance

Shares of NASDAQ CDXS traded up $0.03 during mid-day trading on Wednesday, hitting $1.27. The company had a trading volume of 2,085,038 shares, compared to its average volume of 1,242,815. Codexis has a 12 month low of $0.96 and a 12 month high of $3.87. The stock has a market cap of $114.71 million, a price-to-earnings ratio of -1.67 and a beta of 2.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.12 and a quick ratio of 4.02. The firm’s 50 day simple moving average is $1.39 and its two-hundred day simple moving average is $1.90.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Codexis in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Codexis

Hedge funds have recently added to or reduced their stakes in the stock. Opaleye Management Inc. boosted its holdings in shares of Codexis by 32.6% during the second quarter. Opaleye Management Inc. now owns 12,600,000 shares of the biotechnology company’s stock valued at $30,744,000 after acquiring an additional 3,100,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Codexis by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,669,815 shares of the biotechnology company’s stock worth $11,394,000 after acquiring an additional 80,602 shares during the period. Millennium Management LLC lifted its position in Codexis by 3,376.5% in the 3rd quarter. Millennium Management LLC now owns 4,067,559 shares of the biotechnology company’s stock valued at $9,925,000 after purchasing an additional 3,950,557 shares during the last quarter. Nantahala Capital Management LLC lifted its position in Codexis by 42.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 4,030,619 shares of the biotechnology company’s stock valued at $9,835,000 after purchasing an additional 1,200,000 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Codexis by 8.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,773,646 shares of the biotechnology company’s stock valued at $6,768,000 after purchasing an additional 222,840 shares during the period. 78.54% of the stock is currently owned by institutional investors.

About Codexis

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.