Codexis, Inc. $CDXS Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in shares of Codexis, Inc. (NASDAQ:CDXS) by 73.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 234,247 shares of the biotechnology company’s stock after selling 638,567 shares during the period. Federated Hermes Inc.’s holdings in Codexis were worth $572,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CDXS. Assenagon Asset Management S.A. lifted its position in shares of Codexis by 1.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 233,953 shares of the biotechnology company’s stock worth $571,000 after purchasing an additional 4,256 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in Codexis by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 100,908 shares of the biotechnology company’s stock worth $246,000 after buying an additional 6,300 shares during the last quarter. State of Wyoming acquired a new position in shares of Codexis during the 2nd quarter worth about $25,000. Ameriprise Financial Inc. increased its holdings in shares of Codexis by 0.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,550,806 shares of the biotechnology company’s stock valued at $6,224,000 after acquiring an additional 16,099 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in shares of Codexis by 1,922.9% during the 2nd quarter. Osaic Holdings Inc. now owns 20,634 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 19,614 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Codexis Stock Performance

Shares of CDXS opened at $1.33 on Friday. The company’s 50 day simple moving average is $1.62 and its 200-day simple moving average is $2.17. The firm has a market cap of $120.13 million, a PE ratio of -1.75 and a beta of 2.46. Codexis, Inc. has a 12-month low of $1.22 and a 12-month high of $4.51. The company has a current ratio of 4.12, a quick ratio of 4.02 and a debt-to-equity ratio of 1.03.

Codexis (NASDAQ:CDXS) last announced its earnings results on Thursday, November 6th. The biotechnology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.07). Codexis had a negative net margin of 120.82% and a negative return on equity of 121.39%. The business had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $18.52 million. As a group, equities analysts predict that Codexis, Inc. will post -0.77 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of Codexis from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Codexis in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Codexis has an average rating of “Sell”.

Codexis Profile

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.