Inspire Investing LLC Invests $405,000 in Codexis, Inc. (NASDAQ:CDXS)

Inspire Investing LLC acquired a new stake in Codexis, Inc. (NASDAQ:CDXS) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 84,988 shares of the biotechnology company’s stock, valued at approximately $405,000.

Several other institutional investors have also recently added to or reduced their stakes in CDXS. Jackson Square Capital LLC purchased a new stake in Codexis in the 4th quarter valued at about $210,000. Tallon Kerry Patrick acquired a new stake in shares of Codexis in the fourth quarter worth approximately $2,018,000. Barclays PLC grew its holdings in Codexis by 51.1% in the third quarter. Barclays PLC now owns 207,628 shares of the biotechnology company’s stock valued at $640,000 after purchasing an additional 70,255 shares during the period. Empire Financial Management Company LLC increased its position in Codexis by 4.7% during the third quarter. Empire Financial Management Company LLC now owns 222,952 shares of the biotechnology company’s stock worth $687,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Codexis by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,644,039 shares of the biotechnology company’s stock worth $5,065,000 after purchasing an additional 11,082 shares during the period. 78.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price objective on shares of Codexis in a research note on Friday, November 22nd. Benchmark reissued a “hold” rating on shares of Codexis in a research report on Monday, November 4th.

Codexis Price Performance

CDXS opened at $4.91 on Friday. The company has a 50 day moving average of $4.90 and a two-hundred day moving average of $3.80. Codexis, Inc. has a 52-week low of $2.53 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 has a market cap of $399.58 million, a P/E ratio of -5.64 and a beta of 2.13.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The company had revenue of $12.83 million during the quarter, compared to analyst estimates of $11.64 million. Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. During the same quarter in the prior year, the company posted ($0.26) earnings per share. On average, analysts expect that Codexis, Inc. will post -0.77 earnings per share 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.