Codexis (NASDAQ:CDXS) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03, Morningstar.com reports. The company had revenue of $16.95 million for the quarter, compared to analyst estimates of $14.63 million. Codexis had a negative return on equity of 61.93% and a negative net margin of 29.83%. Codexis updated its FY 2018 guidance to EPS.

Shares of CDXS stock traded down $1.01 on Friday, reaching $15.71. 341,487 shares of the stock were exchanged, compared to its average volume of 301,554. The company has a market cap of $905.96 million, a P/E ratio of -31.42 and a beta of -1.60. Codexis has a one year low of $5.70 and a one year high of $19.60.

In related news, CFO Gordon Sangster sold 80,000 shares of the company’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $16.94, for a total value of $1,355,200.00. Following the completion of the sale, the chief financial officer now owns 174,453 shares in the company, valued at $2,955,233.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick Y. Yang sold 150,340 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $14.45, for a total value of $2,172,413.00. Following the completion of the sale, the director now owns 120,896 shares of the company’s stock, valued at approximately $1,746,947.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,329 shares of company stock valued at $8,354,797. 11.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Codexis by 5.2% in the third quarter. BlackRock Inc. now owns 3,579,527 shares of the biotechnology company’s stock valued at $61,389,000 after purchasing an additional 176,952 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Codexis by 14.9% in the second quarter. Baillie Gifford & Co. now owns 2,646,240 shares of the biotechnology company’s stock valued at $38,107,000 after purchasing an additional 343,261 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Codexis by 35.8% in the third quarter. Wells Fargo & Company MN now owns 1,826,947 shares of the biotechnology company’s stock valued at $31,332,000 after purchasing an additional 481,273 shares during the last quarter. Opaleye Management Inc. increased its holdings in Codexis by 2.9% in the second quarter. Opaleye Management Inc. now owns 1,750,000 shares of the biotechnology company’s stock valued at $25,200,000 after purchasing an additional 49,400 shares during the last quarter. Finally, First Light Asset Management LLC increased its holdings in Codexis by 32.8% in the second quarter. First Light Asset Management LLC now owns 841,419 shares of the biotechnology company’s stock valued at $12,116,000 after purchasing an additional 207,754 shares during the last quarter. Institutional investors and hedge funds own 77.40% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. BidaskClub downgraded Codexis from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. Craig Hallum boosted their target price on Codexis from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, September 5th. Finally, Zacks Investment Research downgraded Codexis from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 15th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $16.40.

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About Codexis

Codexis, Inc discovers, develops, and sells protein catalysts. It also offers 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 protein catalyst screening and protein engineering services.

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Earnings History for Codexis (NASDAQ:CDXS)

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