Raymond de Vre, serving as a director at Codexis Inc. (NASDAQ: CDXS), completed a transaction involving the sale of 2,605 shares of the company's common stock on June 11, 2026. The total value of this sale was recorded at $6,173, with each share transacted at a price of $2.37. This specific sale was necessitated by the requirement to cover tax liabilities that arose from the vesting and release of Restricted Stock Units (RSUs) held by de Vre. Following this transaction, de Vre's direct holdings in Codexis common stock amount to 84,811 shares, a figure that encompasses 31,897 RSUs.
The timing of this transaction is notable given the recent performance of Codexis shares, which have experienced a 44% increase over the past six months. At the time of the report, the stock was trading at $2.41. According to analysis from InvestingPro, the stock is currently considered undervalued. The platform's analysis also highlights that the stock's movements are characterized by high volatility, with a beta of 2.48. Investors seeking deeper insights can access six additional ProTips and comprehensive analysis through the platform's detailed Pro Research Report.
In other recent developments, Codexis Inc. reported its financial results for the first quarter of 2026, surpassing analysts' expectations. The company achieved an earnings per share (EPS) of -$0.1, outperforming the forecasted EPS of -$0.16. Additionally, Codexis reported revenues of $15.2 million, exceeding the anticipated $14.79 million. These results underscore the company's ability to perform better than expected in the current fiscal environment. Investors demonstrated optimism following the announcement, as reflected in after-hours trading. While no specific analyst upgrades or downgrades were mentioned, the positive earnings report could influence future assessments. These recent developments provide a factual perspective on Codexis's financial health.