MetLife Investment Management LLC Has $54,000 Stock Position in Codexis, Inc. (NASDAQ:CDXS)

MetLife Investment Management LLC trimmed its stake in shares of Codexis, Inc. (NASDAQ:CDXS) by 55.1% during the third quarter, Holdings Channel reports. The firm owned 17,591 shares of the biotechnology company’s stock after selling 21,604 shares during the period. MetLife Investment Management LLC’s holdings in Codexis were worth $54,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in shares of Codexis in the 2nd quarter worth approximately $54,000. Intech Investment Management LLC acquired a new position in shares of Codexis in the 3rd quarter worth approximately $66,000. Marshall Wace LLP bought a new position in Codexis in the 2nd quarter worth approximately $89,000. SG Americas Securities LLC raised its position in Codexis by 72.6% in the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 15,425 shares during the last quarter. Finally, Algert Global LLC raised its position in Codexis by 17.1% in the 2nd quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 6,069 shares during the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

Codexis Trading Up 4.0 %

Codexis stock opened at $5.67 on Wednesday. Codexis, Inc. has a 52 week low of $1.85 and a 52 week high of $5.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21. The stock has a market capitalization of $461.41 million, a P/E ratio of -6.52 and a beta of 2.15. The stock has a 50-day simple moving average of $3.84 and a 200 day simple moving average of $3.37.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $11.64 million. Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. During the same quarter last year, the business earned ($0.26) earnings per share. Analysts expect that Codexis, Inc. will post -0.77 earnings per share for the current year.

Insider Activity

In other news, major shareholder Opaleye Management Inc. acquired 1,055,000 shares of the stock in a transaction on Friday, September 20th. The stock was acquired at an average cost of $3.01 per share, for a total transaction of $3,175,550.00. Following the completion of the transaction, the insider now directly owns 8,390,000 shares in the company, valued at approximately $25,253,900. This trade represents a 14.38 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders acquired 1,166,000 shares of company stock worth $3,514,910. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CDXS. Benchmark restated a “hold” rating on shares of Codexis in a research report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 target price on shares of Codexis in a research report on Friday, November 22nd.

Codexis 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.