Codexis (NASDAQ:CDXS) shares gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $11.50, but opened at $10.70. Codexis shares last traded at $10.40, with a volume of 2866513 shares trading hands.
Specifically, Director Bernard J. Kelley sold 10,206 shares of Codexis stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $12.22, for a total value of $124,717.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis P. Wolf sold 41,666 shares of Codexis stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $11.15, for a total transaction of $464,575.90. Following the completion of the sale, the director now directly owns 157,920 shares of the company’s stock, valued at approximately $1,760,808. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,337 shares of company stock valued at $1,187,683. 9.80% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of Codexis from a “hold” rating to a “buy” rating in a research note on Monday. BidaskClub raised shares of Codexis from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Zacks Investment Research raised shares of Codexis from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, HC Wainwright set a $12.00 price objective on shares of Codexis and gave the company a “buy” rating in a research note on Monday, March 12th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Codexis presently has a consensus rating of “Buy” and an average target price of $9.75.
Codexis (NASDAQ:CDXS) last released its earnings results on Thursday, March 8th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.03). The firm had revenue of $21.70 million for the quarter, compared to analyst estimates of $22.97 million. Codexis had a negative return on equity of 103.42% and a negative net margin of 45.97%. The firm’s revenue was up 117.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) EPS. equities research analysts anticipate that Codexis will post -0.25 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in CDXS. Thompson Davis & CO. Inc. increased its holdings in shares of Codexis by 1,753.5% during the 4th quarter. Thompson Davis & CO. Inc. now owns 18,535 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 17,535 shares during the period. Burney Co. bought a new position in shares of Codexis during the 4th quarter worth about $167,000. MetLife Investment Advisors LLC bought a new position in shares of Codexis during the 4th quarter worth about $179,000. The Manufacturers Life Insurance Company increased its holdings in shares of Codexis by 30.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 8,244 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Codexis during the 4th quarter worth about $202,000. 70.84% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: This report was originally published by Ticker Report and is the sole property of of Ticker Report. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.tickerreport.com/banking-finance/3336246/codexis-cdxs-shares-gap-down-following-insider-selling.html.
Codexis Company Profile
Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.
Receive News & Ratings for Codexis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Codexis and related companies with MarketBeat.com's FREE daily email newsletter.