Assenagon Asset Management S.A. Reduces Holdings in Emergent BioSolutions Inc. (NYSE:EBS)

Assenagon Asset Management S.A. reduced its stake in Emergent BioSolutions Inc. (NYSE:EBS - Free Report) by 28.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 545,567 shares of the biopharmaceutical company's stock after selling 220,970 shares during the quarter. Assenagon Asset Management S.A. owned 1.00% of Emergent BioSolutions worth $2,651,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EBS. Harbor Capital Advisors Inc. purchased a new stake in shares of Emergent BioSolutions in the first quarter valued at about $179,000. SeaCrest Wealth Management LLC grew its holdings in Emergent BioSolutions by 13.9% in the first quarter. SeaCrest Wealth Management LLC now owns 106,700 shares of the biopharmaceutical company's stock valued at $519,000 after purchasing an additional 13,000 shares during the period. Aegis Wealth Management LLC purchased a new stake in Emergent BioSolutions in the fourth quarter valued at approximately $145,000. B. Riley Wealth Advisors Inc. grew its stake in Emergent BioSolutions by 21.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 41,800 shares of the biopharmaceutical company's stock worth $400,000 after buying an additional 7,500 shares during the period. Finally, Alpine Global Management LLC purchased a new stake in Emergent BioSolutions during the fourth quarter worth approximately $112,000. 78.40% of the stock is currently owned by institutional investors and hedge funds.

Emergent BioSolutions Price Performance

Shares of EBS stock opened at $6.24 on Tuesday. Emergent BioSolutions Inc. has a 12 month low of $4.02 and a 12 month high of $15.10. The company has a current ratio of 2.88, a quick ratio of 1.47 and a debt-to-equity ratio of 1.30. The stock has a 50 day moving average of $5.69 and a two-hundred day moving average of $7.30. The company has a market capitalization of $338.69 million, a P/E ratio of -1.52 and a beta of 2.10.

Emergent BioSolutions (NYSE:EBS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.22. Emergent BioSolutions had a negative return on equity of 9.91% and a negative net margin of 18.55%. The firm had revenue of $222.20 million during the quarter, compared to analysts' expectations of $218.50 million. As a group, equities analysts expect that Emergent BioSolutions Inc. will post -0.63 EPS for the current year.

Emergent BioSolutions announced that its board has initiated a share repurchase plan on Monday, March 31st that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy up to 19% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EBS. HC Wainwright restated a "buy" rating and issued a $15.00 target price on shares of Emergent BioSolutions in a research note on Tuesday, April 1st. Wall Street Zen downgraded Emergent BioSolutions from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th.

Insider Buying and Selling at Emergent BioSolutions

In other news, Director Keith Katkin sold 7,844 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $6.30, for a total value of $49,417.20. Following the completion of the transaction, the director now owns 86,431 shares in the company, valued at $544,515.30. This represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company's stock.

Emergent BioSolutions Profile

Emergent BioSolutions Inc, a life sciences company, provides preparedness and response solutions for accidental, deliberate, and naturally occurring public health threats in the United States. The company offers NARCAN Nasal Spray for the emergency treatment of known or suspected opioid overdose; Vaxchora vaccine for the prevention of cholera; Vivotif vaccine for oral administration for the prevention of typhoid fever; Anthrasil for the treatment of inhalational anthrax; BioThrax, an anthrax vaccine; CYFENDUS for post-exposure prophylaxis of disease following suspected or confirmed exposure to Bacillus anthracis; and Raxibacumab injection for the treatment and prophylaxis of inhalational anthrax.

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