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Opaleye Management Inc., a significant shareholder of Codexis , Inc. (NASDAQ:CDXS), has recently increased its stake in the company by acquiring additional shares. The move comes as InvestingPro analysis indicates the stock is currently trading below its Fair Value, with shares showing a strong 51.75% return over the past year despite volatile price movements. According to a recent SEC filing, Opaleye purchased a total of 50,000 shares over three consecutive days, from February 10 to February 12, 2025.
The transactions were executed at prices ranging from $3.9955 to $4.1844 per share, resulting in a total investment of $205,481. Following these purchases, Opaleye Management now holds approximately 8,705,000 shares of Codexis, reflecting its continued confidence in the company’s prospects. The company maintains a healthy liquidity position with a current ratio of 3.21, indicating strong ability to meet short-term obligations.
These transactions were carried out through Opaleye, L.P., with Opaleye Management acting as the investment manager. The firm has clarified that it disclaims beneficial ownership of the shares except to the extent of its pecuniary interest. With Codexis’s next earnings report due on February 26, InvestingPro subscribers can access additional insights and 8 more key tips about the company’s financial health and prospects.
In other recent news, Codexis, Inc. has made significant additions to its board. The company announced the appointment of Arthur Levin, PhD, a recognized figure in the RNA therapeutics space, to its Strategic Advisory Board (SAB). Levin’s extensive background in oligonucleotide development is expected to contribute significantly to Codexis’s growth, particularly in expanding its customer base for its Enzyme Catalyzed Oligonucleotide (ECO) Synthesis™ manufacturing platform.
Simultaneously, Codexis also announced the appointment of Christos Richards as a new independent member of its Board of Directors. Richards, with a wealth of experience in healthcare and life sciences, is expected to provide valuable insights and guidance to the company. His appointment comes with an annual cash retainer of $50,000 for his board service, additional annual retainers for his participation in committees, and restricted stock units valued at $200,000.
These recent developments highlight Codexis’s commitment to strengthening its board with independent voices and industry expertise, positioning itself for strategic growth within its sector. While the company has not disclosed any financial details related to Dr. Levin’s appointment, it underscores its commitment to advancing its capabilities in the rapidly evolving field of RNA therapeutics.
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