AQR Capital Management LLC Acquires 107,205 Shares of Codexis, Inc. (NASDAQ:CDXS)

AQR Capital Management LLC boosted its holdings in shares of Codexis, Inc. (NASDAQ:CDXS) by 82.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 237,272 shares of the biotechnology company’s stock after purchasing an additional 107,205 shares during the quarter. AQR Capital Management LLC owned about 0.34% of Codexis worth $736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in shares of Codexis in the 2nd quarter worth approximately $54,000. Marshall Wace LLP bought a new stake in Codexis during the 2nd quarter valued at $89,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Codexis in the 1st quarter worth $97,000. State Board of Administration of Florida Retirement System raised its position in shares of Codexis by 57.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after acquiring an additional 10,395 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Codexis by 72.6% in the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 15,425 shares in the last quarter. Institutional investors own 78.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of Codexis in a research report on Friday, September 20th. Benchmark downgraded Codexis from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.75.

Insider Buying and Selling

In other news, major shareholder Opaleye Management Inc. purchased 1,055,000 shares of the stock in a transaction dated Friday, September 20th. The stock was acquired at an average cost of $3.01 per share, for a total transaction of $3,175,550.00. Following the completion of the transaction, the insider now directly owns 8,390,000 shares in the company, valued at approximately $25,253,900. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders acquired 1,166,000 shares of company stock worth $3,514,910. Company insiders own 2.10% of the company’s stock.

Codexis Price Performance

Shares of Codexis stock opened at $3.15 on Monday. Codexis, Inc. has a 12 month low of $1.51 and a 12 month high of $4.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.99 and a quick ratio of 2.92. The stock has a market capitalization of $223.43 million, a P/E ratio of -2.92 and a beta of 2.08. The business has a 50 day simple moving average of $2.97 and a two-hundred day simple moving average of $3.15.

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

Codexis 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.