Codexis (CDXS)
Builds enzyme platforms for RNA manufacturing and pharma biocatalysis.
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Develops enzyme solutions through CodeEvolver, with work centered on ECO Synthesis for RNA medicines, small-molecule pharma biocatalysis, and molecular-biology enzymes. Revenue comes from enzyme products plus R&D, licensing, technology-transfer, and collaboration work, with major-customer concentration shaping results.
Uses CodeEvolver to discover, improve, and commercialize high-performance enzymes and other proteins. Current applications center on ECO Synthesis for RNAi and oligonucleotide manufacturing, small-molecule pharma biocatalysis, and molecular-biology or diagnostic enzyme solutions.
Based in Redwood City, the business reports as one segment after combining its former performance-enzyme and novel-biotherapeutics operations. Commercial activity mixes enzyme product sales with R&D, licensing, technology-transfer, and collaborative development work.
Execution depends on turning directed-evolution work into manufacturing tools that pharmaceutical customers can adopt for efficiency, yield, purity, energy use, and waste reduction. The business is partnership-heavy, and annual results can be shaped by large collaboration or technology-transfer customers, including Merck.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Mar 12, 2026 | Stifel Nicolaus | Target | Target: — | Target: $5 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $54.9M · Total debt $72.6M · Total assets $120.1M · Shareholders' equity $33.0M
- Revenue
- $14.9M
- Operating income
- −$11.2M
- Net income
- −$12.0M
No dividends on record.
| Institutions | ≈ 59.32% | 64.96M shares | |
|---|---|---|---|
| 151 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 6.23% | 6.82M shares | |
| 14 holders · as of Jun 11, 2026 | |||
| Strategic holders | 11.60% | 12.70M shares | |
| 2 holders · as of Apr 14, 2026 | |||
| Other | ≈ 22.85% | 25.02M shares | |
| remainder | |||
109.51M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Aberdeen Group plcStrategic | 7.27% | 7.97M | filed Jan 15, 2026 |
BlackRock, Inc.Institution | 6.65% | 7.28M | as of Jun 30, 2026 |
Opaleye Management Inc.Institution | 6.20% | 6.79M | as of Jun 30, 2026 |
Abrdn PLCInstitution | 6.18% | 6.77M | as of Jun 30, 2026 |
Millennium Management LLCInstitution | 5.07% | 5.55M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 11, 2026 | Raymond de Vre | director | −2,605 | $2.37 |
| Feb 24, 2026 | Stefan Lutz | officer: Chief Scientific Officer | −5,862 | $1.13 |
| Feb 6, 2026 | Alison Moore | director, officer: President and CEO | −3,826 | $1.31 |
| Feb 6, 2026 | Georgia Erbez | officer: See Remarks | −3,826 | $1.31 |
| Feb 6, 2026 | Stefan Lutz | officer: Chief Scientific Officer | −2,492 | $1.31 |
- Agilent Technologies
Oligo CDMO capacity against enzymatic RNA manufacturing
- Danaher
IDT and Aldevron overlap in oligo and genetic-medicine inputs
- Thermo Fisher Scientific
Life-science tools and Patheon CDMO substitute across workflows
- Ginkgo Bioworks
Cell-programming platform with enzyme and protein-engineering tools
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Codexis | $1.43 | +3.26% | $148.4M | — | — | 1.9 | −2.7% |
| Agilent Technologies | $166.63 | +2.90% | $45.75B | 31.9 | 25.4 | 6.2 | +8.1% |
| Danaher | $221.37 | +2.56% | $151.67B | 38.3 | 25.0 | 6.0 | +5.5% |
| Thermo Fisher Scientific | $658.84 | +0.01% | $244.81B | 35.4 | 25.1 | 5.3 | +10.5% |
| Ginkgo Bioworks | $9.52 | +19.30% | $521.3M | — | — | 4.7 | −59.4% |
| Median | 35.4 | 25.1 | 5.7 | +6.8% |