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In recent transactions, Opaleye Management Inc., a significant shareholder of Codexis , Inc. (NASDAQ:CDXS), acquired a total of 65,000 shares of the company’s common stock. These purchases, made on March 4 and March 5, amounted to a total value of $172,273. The shares were bought at a weighted average price, with the transactions occurring within a price range of $2.505 to $2.73 per share. The timing is notable as the stock has declined over 30% in the past week, with InvestingPro analysis indicating the stock is currently in oversold territory.
Following these acquisitions, Opaleye Management now holds a total of 8,965,000 shares of Codexis, reflecting its continued confidence in the company. The transactions were executed through Opaleye, L.P., with Opaleye Management Inc. acting as the investment manager. According to InvestingPro data, analyst targets suggest significant upside potential, with price targets ranging from $4 to $11 per share. Subscribers can access 10+ additional ProTips and comprehensive analysis in the Pro Research Report, offering deeper insights into Codexis’s valuation and market position.
In other recent news, Codexis Inc. announced its fourth-quarter 2024 earnings, which showed a larger-than-expected loss and lower-than-anticipated revenue. The company reported an EPS of -$0.13, missing the forecasted -$0.04, with revenue reaching $21.5 million, falling short of the expected $28.2 million. For the full year, Codexis’s revenue was $59.3 million, a decrease from $62 million in 2023, though the net loss improved to $65.3 million from $84.4 million the previous year. The company has provided revenue guidance for 2025, projecting between $64 million and $68 million, with expectations of double-digit growth. Codexis is focusing on expanding its enzymatic synthesis technology, particularly for siRNA production, and aims for cash flow positivity by the end of 2026. The company is also planning to secure a CDMO scale-up partner and exploring the construction of a kilogram-scale GMP facility to enhance its production capabilities. Analyst firms such as Cantor Fitzgerald and Jefferies have shown interest in Codexis’s strategic initiatives, reflecting ongoing market interest in the company’s future prospects.
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