Connor Clark & Lunn Investment Management Ltd. Sells 97,146 Shares of ADMA Biologics Inc $ADMA

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in ADMA Biologics Inc. by 59.3%, selling 97,146 shares and now holds 66,740 shares valued at approximately $1.32 million.
• Other institutional investors, such as the New York State Teachers Retirement System, have increased their holdings in ADMA Biologics, with a significant boost of 96.2% during the same quarter.
• ADMA Biologics reported a quarterly earnings per share (EPS) of $0.15, surpassing analyst expectations and showing a year-over-year revenue increase of 13.8%.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of ADMA Biologics Inc (NASDAQ:ADMA - Free Report) by 59.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,740 shares of the biotechnology company's stock after selling 97,146 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in ADMA Biologics were worth $1,324,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ADMA. Envestnet Asset Management Inc. boosted its holdings in shares of ADMA Biologics by 68.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 60,004 shares of the biotechnology company's stock worth $1,029,000 after purchasing an additional 24,293 shares during the period. Raymond James Financial Inc. acquired a new stake in ADMA Biologics in the fourth quarter valued at approximately $19,076,000. Summit Investment Advisors Inc. lifted its stake in ADMA Biologics by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 23,560 shares of the biotechnology company's stock valued at $404,000 after acquiring an additional 746 shares during the last quarter. Barclays PLC lifted its stake in ADMA Biologics by 2.4% in the fourth quarter. Barclays PLC now owns 541,093 shares of the biotechnology company's stock valued at $9,279,000 after acquiring an additional 12,464 shares during the last quarter. Finally, Mariner LLC acquired a new stake in ADMA Biologics in the fourth quarter valued at approximately $573,000. 75.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jerrold B. Grossman sold 10,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $21.31, for a total transaction of $213,100.00. Following the transaction, the director owned 478,194 shares of the company's stock, valued at approximately $10,190,314.14. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steve Elms sold 194,749 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $20.24, for a total transaction of $3,941,719.76. Following the transaction, the director directly owned 87,330 shares in the company, valued at $1,767,559.20. This trade represents a 69.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 456,842 shares of company stock valued at $9,486,200. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ADMA shares. Raymond James Financial lifted their target price on shares of ADMA Biologics from $25.00 to $32.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 8th. Wall Street Zen cut shares of ADMA Biologics from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $27.67.

ADMA Biologics Stock Performance

Shares of NASDAQ:ADMA traded down $0.4120 during trading on Wednesday, reaching $17.0280. The stock had a trading volume of 624,933 shares, compared to its average volume of 3,133,360. ADMA Biologics Inc has a 52 week low of $13.50 and a 52 week high of $25.67. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 19.84 and a beta of 0.38. The company has a quick ratio of 2.78, a current ratio of 5.33 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $18.15 and a two-hundred day simple moving average of $18.87.

ADMA Biologics (NASDAQ:ADMA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. ADMA Biologics had a net margin of 44.06% and a return on equity of 41.01%. The company had revenue of $121.98 million for the quarter, compared to analyst estimates of $121.77 million. During the same quarter last year, the firm posted $0.13 earnings per share. The company's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that ADMA Biologics Inc will post 0.51 earnings per share for the current fiscal year.

ADMA Biologics Profile

ADMA Biologics, Inc, a biopharmaceutical company, engages in developing, manufacturing, and marketing specialty plasma-derived biologics for the treatment of immune deficiencies and infectious diseases in the United States and internationally. The company offers BIVIGAM, an intravenous immune globulin (IVIG) product indicated for the treatment of primary humoral immunodeficiency (PI); ASCENIV, an IVIG product for the treatment of PI; and Nabi-HB for the treatment of acute exposure to blood containing Hepatitis B surface antigen and other listed exposures to Hepatitis B.