Jacobs Levy Equity Management Inc. Sells 321,312 Shares of Codexis, Inc. (NASDAQ:CDXS)

Jacobs Levy Equity Management Inc. decreased its stake in shares of Codexis, Inc. (NASDAQ:CDXS) by 23.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,046,676 shares of the biotechnology company’s stock after selling 321,312 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.48% of Codexis worth $3,653,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in shares of Codexis by 674.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 13,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Codexis in the 1st quarter valued at about $97,000. State Board of Administration of Florida Retirement System increased its stake in shares of 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 in the last quarter. Simplex Trading LLC raised its position in shares of Codexis by 1,444.0% in the fourth quarter. Simplex Trading LLC now owns 40,114 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 37,516 shares during the period. Finally, Aristides Capital LLC purchased a new position in Codexis in the 4th quarter valued at approximately $189,000. Institutional investors own 78.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CDXS shares. Benchmark reiterated a “buy” rating and set a $9.00 price objective on shares of Codexis in a research note on Friday, May 3rd. Jefferies Financial Group initiated coverage on shares of Codexis in a research report on Monday, June 3rd. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on shares of Codexis in a report on Thursday, May 30th. They set an “overweight” rating and a $11.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Codexis has an average rating of “Moderate Buy” and a consensus target price of $7.33.

Codexis Stock Performance

Shares of Codexis stock traded up $0.02 on Wednesday, hitting $3.65. 131,572 shares of the company traded hands, compared to its average volume of 507,476. Codexis, Inc. has a 12-month low of $1.45 and a 12-month high of $4.91. The firm’s 50-day simple moving average is $3.24 and its 200 day simple moving average is $3.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.63 and a current ratio of 3.71.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.01. The firm had revenue of $17.07 million during the quarter, compared to analyst estimates of $14.06 million. Codexis had a negative return on equity of 41.76% and a negative net margin of 87.73%. On average, analysts expect that Codexis, Inc. will post -0.63 EPS for the current year.

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.