CBIO vs CDXS

Crescent Biopharma, Inc. vs Codexis, Inc. — Valuation Comparison 2026

By CirclFi Research Team · Updated 2026-06-03 · Data from SEC EDGAR, FRED & GDELT

Quick Summary — CDXS scores higher on quality with 6.1/10 vs CBIO's 5.3/10. CBIO trades at $17.00 while CDXS trades at $2.69. Both analyzed daily using SEC EDGAR data across 13 institutional models.

CBIO

Biotechnology
Crescent Biopharma, Inc.
Quality
5.3
out of 10
Value Trap
12
SAFE
Price
$17.00
Last close
Models
9/13
Active
VS

CDXS

Biotechnology
Codexis, Inc.
Quality
6.1
out of 10
Value Trap
20
SAFE
Price
$2.69
Last close
Models
11/13
Active
CBIO
2 models active
Limited to 2/13 visible models
CDXS
2 models active
Limited to 2/13 visible models

CBIO vs CDXS — Fair Value Comparison

CBIO
$0$7$13$20 Price$17.00 Bayesian …$7.68 (-54.9%) ML-RIV$4.01 (-76.4%)
CDXS
$0$1$2$3 Price$2.69 Bayesian …$0.37 (-86.3%) Earnings …$0.90 (-66.4%)
Market Price Model 1 Model 2

Model-by-Model Comparison

ModelType CBIO Fair ValueCBIO Upside CDXS Fair ValueCDXS Upside
Bayesian DCF Intrinsic $7.68 -54.9% $0.37 -86.3%
Earnings Power Value Intrinsic $0.90 -66.4%
EROIC Spread Intrinsic $•••.•• ••.•% $•••.•• ••.•%
First Chicago Scenario $•••.•• ••.•% $•••.•• ••.•%
ML-RIV Intrinsic $4.01 -76.4% $0.04 -98.5%
Dynamic NAV Asset-Based $•••.•• ••.•% $•••.•• ••.•%
PWERM Option-Based $•••.•• ••.•% $•••.•• ••.•%
Regime Cross-Sectional Relative $•••.•• ••.•% $•••.•• ••.•%
Sentiment SOTP Hybrid $•••.•• ••.•% $•••.•• ••.•%
CUCE Ensemble Ensemble $•••.•• ••.•% $•••.•• ••.•%
FTNN Topology Relative $•••.•• ••.•% $•••.•• ••.•%

CBIO vs CDXS — Which Stock Is More Undervalued in 2026?

CDXS scores higher with a 6.1/10 quality rating vs CBIO's 5.3/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

How Do CBIO and CDXS Valuations Compare?

At $17.00, CBIO trades +54.9% above its Bayesian DCF fair value of $7.68, while CDXS at $2.69 trades +86.3% above its estimate of $0.37. CDXS shows a wider gap between price and intrinsic value.

Quality of Company: CBIO vs CDXS

CBIO earns a Quality of Company score of 5.3/10 compared to CDXS's 6.1/10. The scores are closely matched, indicating similar fundamental quality profiles. The QOC score synthesizes 32 signals spanning profitability margins, revenue growth, free cash flow, capital allocation, and leverage.

Value Trap Risk: CBIO vs CDXS

CBIO carries a SAFE value trap risk (12/100) while CDXS shows SAFE risk (20/100). Both companies show manageable value trap risk, suggesting their current valuations are not artificially depressed by fundamental deterioration.

Both in Biotechnology

Both CBIO and CDXS operate in Biotechnology, which has 566 stocks tracked by CirclFi. Same-industry comparisons provide the most direct insight into relative valuation since both companies face similar regulatory environments, market dynamics, and competitive pressures. Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN), and ensemble methods (CUCE).

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