abrdn plc Sells 291,787 Shares of Codexis, Inc. (NASDAQ:CDXS)

abrdn plc decreased its stake in Codexis, Inc. (NASDAQ:CDXS) by 36.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 508,623 shares of the biotechnology company’s stock after selling 291,787 shares during the period. abrdn plc’s holdings in Codexis were worth $2,426,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CDXS. Intech Investment Management LLC bought a new stake in shares of Codexis in the third quarter valued at about $66,000. Kingswood Wealth Advisors LLC bought a new stake in shares of Codexis in the 4th quarter valued at about $79,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Codexis in the 4th quarter valued at about $82,000. Marshall Wace LLP purchased a new stake in shares of Codexis in the 2nd quarter worth approximately $89,000. Finally, Jackson Square Capital LLC bought a new position in shares of Codexis during the fourth quarter valued at approximately $210,000. Institutional investors own 78.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Codexis Stock Down 3.2 %

Shares of NASDAQ CDXS opened at $4.18 on Tuesday. Codexis, Inc. has a 52-week low of $2.56 and a 52-week high of $6.08. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. The company’s 50-day simple moving average is $4.89 and its 200-day simple moving average is $3.88. The firm has a market cap of $340.17 million, a price-to-earnings ratio of -4.80 and a beta of 2.12.

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.