Assenagon Asset Management S.A. Has $2.65 Million Position in Emergent Biosolutions Inc. (NYSE:EBS)

Assenagon Asset Management S.A. cut its holdings in Emergent Biosolutions Inc. (NYSE:EBS - Free Report) by 28.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 545,567 shares of the biopharmaceutical company's stock after selling 220,970 shares during the period. Assenagon Asset Management S.A. owned approximately 1.00% of Emergent Biosolutions worth $2,651,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. boosted its holdings in Emergent Biosolutions by 23.4% in the 4th quarter. American Century Companies Inc. now owns 2,137,712 shares of the biopharmaceutical company's stock valued at $20,437,000 after purchasing an additional 404,667 shares during the period. Invesco Ltd. boosted its stake in shares of Emergent Biosolutions by 70.9% in the fourth quarter. Invesco Ltd. now owns 1,539,907 shares of the biopharmaceutical company's stock valued at $14,722,000 after buying an additional 638,995 shares during the period. Millennium Management LLC grew its position in Emergent Biosolutions by 83.0% during the fourth quarter. Millennium Management LLC now owns 1,481,906 shares of the biopharmaceutical company's stock worth $14,167,000 after buying an additional 671,947 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Emergent Biosolutions by 67.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,104,058 shares of the biopharmaceutical company's stock worth $10,554,000 after buying an additional 444,790 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Emergent Biosolutions by 8.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 902,332 shares of the biopharmaceutical company's stock worth $8,626,000 after acquiring an additional 69,157 shares during the period. 78.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen downgraded Emergent Biosolutions from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. HC Wainwright reiterated a "buy" rating and set a $15.00 price objective on shares of Emergent Biosolutions in a research note on Tuesday, April 1st.

Insider Buying and Selling

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 stock was 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 of the company's stock, 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 SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Emergent Biosolutions Price Performance

NYSE EBS traded down $0.05 on Friday, hitting $6.26. 386,676 shares of the company's stock were exchanged, compared to its average volume of 1,173,106. Emergent Biosolutions Inc. has a 52 week low of $4.02 and a 52 week high of $15.10. The stock has a 50-day moving average of $5.79 and a 200-day moving average of $7.26. The company has a current ratio of 6.32, a quick ratio of 3.51 and a debt-to-equity ratio of 1.20. The stock has a market cap of $339.58 million, a price-to-earnings ratio of -2.31 and a beta of 2.10.

Emergent Biosolutions (NYSE:EBS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.22. The business had revenue of $222.20 million during the quarter, compared to the consensus estimate of $218.50 million. Emergent Biosolutions had a negative return on equity of 0.52% and a negative net margin of 13.63%. Analysts expect that Emergent Biosolutions Inc. will post -0.63 earnings per share for the current year.

Emergent Biosolutions declared that its board has initiated a stock buyback plan on Monday, March 31st that allows the company to buyback $50.00 million in shares. This buyback authorization allows the biopharmaceutical company to reacquire up to 19% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

About Emergent Biosolutions

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.