New York State Common Retirement Fund Has $1.82 Million Position in Emergent Biosolutions Inc. (NYSE:EBS)

New York State Common Retirement Fund grew its stake in shares of Emergent Biosolutions Inc. (NYSE:EBS - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,034 shares of the biopharmaceutical company's stock after acquiring an additional 68,748 shares during the period. New York State Common Retirement Fund owned about 0.69% of Emergent Biosolutions worth $1,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EBS. Covestor Ltd raised its holdings in shares of Emergent Biosolutions by 5,458.5% in the 4th quarter. Covestor Ltd now owns 2,946 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 2,893 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Emergent Biosolutions by 40.4% in the 1st quarter. Bank of New York Mellon Corp now owns 17,003 shares of the biopharmaceutical company's stock worth $83,000 after purchasing an additional 4,894 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Emergent Biosolutions in the fourth quarter worth approximately $110,000. Alpine Global Management LLC purchased a new position in shares of Emergent Biosolutions in the fourth quarter worth approximately $112,000. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Emergent Biosolutions in the fourth quarter worth approximately $115,000. 78.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Emergent Biosolutions news, Director Keith Katkin sold 7,844 shares of the stock in a transaction 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 sale, the director owned 86,431 shares in the company, valued at $544,515.30. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Emergent Biosolutions in a research report on Tuesday, April 1st.

Emergent Biosolutions Price Performance

NYSE:EBS traded down $0.33 during mid-day trading on Friday, reaching $7.15. 788,610 shares of the company were exchanged, compared to its average volume of 1,356,838. Emergent Biosolutions Inc. has a 12 month low of $4.02 and a 12 month high of $15.10. The company has a fifty day moving average of $6.71 and a 200 day moving average of $6.88. The company has a quick ratio of 3.51, a current ratio of 6.32 and a debt-to-equity ratio of 1.20. The stock has a market cap of $387.82 million, a PE ratio of -2.64 and a beta of 2.09.

Emergent Biosolutions (NYSE:EBS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.22. The company had revenue of $222.20 million for the quarter, compared to the consensus estimate of $218.50 million. Emergent Biosolutions had a negative net margin of 13.63% and a negative return on equity of 0.52%. On average, research analysts anticipate that Emergent Biosolutions Inc. will post -0.63 EPS for the current fiscal year.

Emergent Biosolutions declared that its board has approved a stock buyback 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 purchase up to 19% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Emergent Biosolutions Company 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.