Codexis (NASDAQ:CDXS) Announces Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Codexis (NASDAQ:CDXS) posted its earnings results on Thursday. The biotechnology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.07), FiscalAI reports. The company had revenue of $8.60 million during the quarter, compared to analyst estimates of $18.52 million. Codexis had a negative net margin of 113.67% and a negative return on equity of 105.83%.

Codexis Price Performance

Codexis stock opened at $1.69 on Friday. The company has a current ratio of 5.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $2.48 and a 200-day simple moving average of $2.56. The stock has a market cap of $152.55 million, a P/E ratio of -2.04 and a beta of 2.57. Codexis has a 12-month low of $1.61 and a 12-month high of $6.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Codexis by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,669,815 shares of the biotechnology company’s stock worth $11,394,000 after purchasing an additional 80,602 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Codexis by 1,922.9% in the second quarter. Osaic Holdings Inc. now owns 20,634 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 19,614 shares during the last quarter. State of Wyoming purchased a new stake in shares of Codexis in the second quarter valued at about $25,000. Opaleye Management Inc. boosted its stake in shares of Codexis by 32.6% during the second quarter. Opaleye Management Inc. now owns 12,600,000 shares of the biotechnology company’s stock worth $30,744,000 after buying an additional 3,100,000 shares during the period. Finally, Mink Brook Asset Management LLC grew its holdings in shares of Codexis by 154.0% during the second quarter. Mink Brook Asset Management LLC now owns 321,711 shares of the biotechnology company’s stock worth $785,000 after buying an additional 195,069 shares during the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CDXS. Wall Street Zen upgraded Codexis from a “strong sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Codexis in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.00.

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.