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Opaleye Management Inc., a significant shareholder in Codexis , Inc. (NASDAQ:CDXS), recently increased its stake in the company through a series of stock purchases. According to a recent SEC filing, Opaleye acquired a total of 100,000 shares of Codexis common stock over two transactions on March 20 and March 21, 2025. These purchases amounted to a total value of $236,283, with the price per share ranging from $2.5386 to $2.5426. The stock, which has seen a -46% year-to-date return according to InvestingPro data, currently trades near its 52-week low of $2.43.
Post-transaction, Opaleye Management holds 9,250,000 shares of Codexis, reflecting its continued interest in the biotechnology firm. The shares are held indirectly by Opaleye, L.P., with Opaleye Management Inc. acting as the investment manager. Additionally, another 250,000 shares are held through a separately managed account. With a market capitalization of $256 million, Codexis maintains strong liquidity with a current ratio of 4.18, though InvestingPro analysis indicates the company is quickly burning through cash.
This filing highlights Opaleye Management’s strategic investment approach as it strengthens its position in Codexis, a company known for its innovations in enzyme engineering. Analysts maintain a bullish outlook with price targets ranging from $4 to $11, suggesting significant upside potential. Discover more insights and 8 additional ProTips about Codexis in the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Codexis Inc. reported its fourth-quarter 2024 financial results, revealing a notable miss in both earnings and revenue. The company announced an earnings per share (EPS) of -$0.13, which fell short of the analyst forecast of -$0.04. Revenue for the quarter was $21.5 million, also below the expected $28.2 million. Despite these setbacks, Codexis has provided guidance for 2025, projecting revenue between $64 million and $68 million, signaling anticipated growth.
Additionally, Codexis has made strategic moves to attract new talent by approving equity grants for two newly hired employees under its 2024 Inducement Plan. The plan includes options to purchase 10,000 shares of common stock and 5,000 restricted stock units for each employee. These grants are structured to vest over several years, aligning with the company’s long-term growth strategies.
In terms of partnerships, Codexis continues to emphasize its collaboration with Pfizer (NYSE:PFE), transitioning from a past partnership on Paxlovid to new agreements that promise future revenue opportunities. The company is also focusing on expanding its enzymatic synthesis technology, particularly for siRNA production, and aims to secure a CDMO scale-up partner to enhance its production capabilities. Analyst discussions have highlighted Codexis’s strategic initiatives, including potential revenue-generating contracts and its path to achieving cash flow positivity by the end of 2026.
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