Shares of Codexis, the enzyme engineering company, saw a significant boost as four C-suite executives increased their stakes in the company. The stock experienced a 22% surge in early trading, reaching $2.13. Despite this positive development, shares are still down by 70% over the course of the past year.
Chief Executive Stephen Dilly made a notable purchase last Friday, spending over $100,000 to acquire 58,479 shares at an average price of $1.73. This transaction raised his total holdings to almost 439,000 shares.
On the same day, Chief Financial Officer Sri Ryali bought 11,650 shares at an average price of $1.70, elevating his holdings to over 123,000 shares. Additionally, Chief Legal and Compliance Officer Meg Fitzgerald purchased 11,834 shares at an average price of $1.70, bringing her holdings to more than 81,000 shares.
Chief Operating Officer Kevin Norrett also took part in the stock acquisition activity on Monday. He bought 9,000 shares at an average price of $1.72, increasing his holdings to more than 98,000 shares.
The investment actions of these Codexis executives have generated positive momentum for the company.