Jacobs Levy Equity Management Inc. Sells 114,194 Shares of Codexis, Inc. (NASDAQ:CDXS)

Jacobs Levy Equity Management Inc. reduced its holdings in shares of Codexis, Inc. (NASDAQ:CDXS) by 11.3% in the third quarter, Holdings Channel.com reports. The fund owned 895,695 shares of the biotechnology company’s stock after selling 114,194 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Codexis were worth $2,759,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in shares of Codexis during the 2nd quarter worth approximately $54,000. Intech Investment Management LLC bought a new stake in shares of Codexis during the 3rd quarter worth approximately $66,000. Marshall Wace LLP bought a new stake in Codexis during the 2nd quarter valued at $89,000. SG Americas Securities LLC raised its position in Codexis by 72.6% during the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 15,425 shares in the last quarter. Finally, Algert Global LLC raised its position in Codexis by 17.1% during the 2nd quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock valued at $129,000 after purchasing an additional 6,069 shares in the last quarter. 78.54% of the stock is owned by institutional investors.

Codexis Trading Up 2.2 %

CDXS opened at $4.73 on Friday. The firm has a market cap of $384.93 million, a price-to-earnings ratio of -5.44 and a beta of 2.15. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39. Codexis, Inc. has a 12 month low of $1.85 and a 12 month high of $4.99. The stock has a fifty day moving average price of $3.74 and a 200-day moving average price of $3.33.

Codexis (NASDAQ:CDXS) last announced its earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share 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 business had revenue of $12.83 million for the quarter, compared to analysts’ expectations of $11.64 million. During the same quarter last year, the firm earned ($0.26) earnings per share. As a group, equities research analysts anticipate that Codexis, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CDXS shares. Benchmark reaffirmed a “hold” rating on shares of Codexis in a research report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of Codexis in a research report on Friday, November 22nd.

Insider Buying and Selling

In other Codexis news, major shareholder Opaleye Management Inc. bought 45,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average cost of $2.94 per share, for a total transaction of $132,300.00. Following the purchase, the insider now directly owns 8,435,000 shares in the company, valued at $24,798,900. This represents a 0.54 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 1,166,000 shares of company stock worth $3,514,910 in the last ninety days. 2.10% of the stock is owned by insiders.

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.