Los Angeles Capital Management LLC Invests $54,000 in Codexis, Inc. (NASDAQ:CDXS)

Los Angeles Capital Management LLC acquired a new stake in shares of Codexis, Inc. (NASDAQ:CDXS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,480 shares of the biotechnology company’s stock, valued at approximately $54,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDXS. Rhumbline Advisers boosted its holdings in shares of Codexis by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 108,594 shares of the biotechnology company’s stock valued at $337,000 after buying an additional 4,017 shares in the last quarter. Private Advisor Group LLC boosted its stake in Codexis by 3.9% in the fourth quarter. Private Advisor Group LLC now owns 189,486 shares of the biotechnology company’s stock valued at $578,000 after acquiring an additional 7,065 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Codexis by 57.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after purchasing an additional 10,395 shares during the last quarter. SG Americas Securities LLC grew its holdings in Codexis by 72.6% in the second quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 15,425 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Codexis during the first quarter worth $97,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CDXS shares. Benchmark downgraded Codexis from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price objective on shares of Codexis in a report on Thursday, August 29th. Finally, Jefferies Financial Group started coverage on shares of Codexis in a research note on Monday, June 3rd. They issued a “buy” rating and a $5.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.75.

Codexis Stock Up 2.5 %

Codexis stock opened at $2.85 on Tuesday. Codexis, Inc. has a fifty-two week low of $1.45 and a fifty-two week high of $4.91. The company has a market cap of $201.09 million, a PE ratio of -3.06 and a beta of 2.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 2.99. The business’s 50-day simple moving average is $3.11 and its two-hundred day simple moving average is $3.21.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Codexis had a negative return on equity of 64.06% and a negative net margin of 125.41%. The business had revenue of $7.98 million during the quarter, compared to analyst estimates of $7.64 million. During the same quarter last year, the company posted ($0.17) EPS. Equities analysts anticipate that Codexis, Inc. will post -0.75 EPS for the current year.

Codexis Company Profile

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.