Codexis shares acquired by Opaleye Management total $298,772

Opaleye Management Inc., a significant shareholder in Codexis , Inc. (NASDAQ:CDXS), has recently increased its stake in the company. According to a recent SEC filing, Opaleye Management purchased a total of 140,000 shares of Codexis common stock over three consecutive days in mid-April. The investment comes as Codexis shares have declined nearly 56% year-to-date, though InvestingPro analysis suggests the stock may be undervalued at its current market capitalization of $176 million.

The transactions were executed at varying prices, with shares acquired at a weighted average price ranging from $2.0925 to $2.2288 per share. The total value of these acquisitions amounted to approximately $298,772. With a beta of 2.35, Codexis stock has shown significant volatility, which may present opportunities for institutional investors.

Following these transactions, Opaleye Management now holds a total of 9,605,000 shares in Codexis, reflecting its continued interest and investment in the company. The shares are held indirectly by Opaleye, L.P., with Opaleye Management Inc. acting as the investment manager. Discover more insights about Codexis and access comprehensive analysis with InvestingPro, which offers 10 additional key tips and a detailed Pro Research Report for informed investment decisions.

In other recent news, Codexis Inc. reported its fourth-quarter 2024 financial results, revealing a larger-than-expected loss per share and lower-than-anticipated revenue. The company posted an EPS of -$0.13, missing the forecast of -$0.04, and recorded revenue of $21.5 million, falling short of the expected $28.2 million. Codexis has provided 2025 revenue guidance of $64-68 million, anticipating double-digit growth. Additionally, Codexis announced the appointment of Cynthia Collins to its Board of Directors as a Class II director. Collins brings extensive experience in the healthcare sector and will also join the Compensation Committee of the Board. In another development, Codexis approved equity grants for two newly hired employees as part of its 2024 Inducement Plan, which includes options to purchase 10,000 shares of common stock and 5,000 restricted stock units for each employee. These recent developments highlight Codexis’s ongoing efforts to strengthen its leadership and incentivize new talent.

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