Rafferty Asset Management LLC Sells 33,620 Shares of Emergent Biosolutions Inc. $EBS

Key Points

• Rafferty Asset Management LLC has reduced its stake in Emergent Biosolutions Inc. by 23.2%, selling 33,620 shares during the first quarter, leaving them with 111,100 shares valued at approximately $540,000.
• Emergent Biosolutions' stock rating was downgraded from "buy" to "hold" by Wall Street Zen, with an average price target of $14.33 according to analysts.
• The company reported $0.16 earnings per share for the last quarter, significantly beating the analysts' expectations of ($0.26), but revenue fell short of estimates at $140.90 million.

Rafferty Asset Management LLC decreased its stake in shares of Emergent Biosolutions Inc. (NYSE:EBS - Free Report) by 23.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,100 shares of the biopharmaceutical company's stock after selling 33,620 shares during the quarter. Rafferty Asset Management LLC owned about 0.20% of Emergent Biosolutions worth $540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EBS. Millennium Management LLC boosted its position in shares of 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 acquiring an additional 671,947 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 acquiring an additional 444,790 shares during the last quarter. Prescott Group Capital Management L.L.C. boosted its position in shares of Emergent Biosolutions by 198.9% during the first quarter. Prescott Group Capital Management L.L.C. now owns 627,671 shares of the biopharmaceutical company's stock worth $3,050,000 after acquiring an additional 417,671 shares during the last quarter. Palisade Capital Management LP boosted its position in shares of Emergent Biosolutions by 21.6% during the first quarter. Palisade Capital Management LP now owns 1,141,589 shares of the biopharmaceutical company's stock worth $5,548,000 after acquiring an additional 202,857 shares during the last quarter. Finally, Man Group plc bought a new position in shares of Emergent Biosolutions during the fourth quarter worth $1,690,000. Institutional investors own 78.40% of the company's stock.

Insider Buying and Selling at Emergent Biosolutions

In other news, Director Kathryn C. Zoon sold 7,086 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $8.87, for a total value of $62,852.82. Following the sale, the director owned 71,799 shares of the company's stock, valued at approximately $636,857.13. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Donald W. Degolyer sold 7,844 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $8.65, for a total transaction of $67,850.60. Following the completion of the sale, the director directly owned 137,659 shares in the company, valued at approximately $1,190,750.35. This represents a 5.39% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Emergent Biosolutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Emergent Biosolutions presently has an average rating of "Buy" and an average price target of $14.33.

Emergent Biosolutions Price Performance

Emergent Biosolutions stock opened at $8.23 on Wednesday. The company has a market cap of $438.80 million, a price-to-earnings ratio of 3.36 and a beta of 2.04. The firm's fifty day moving average is $7.52 and its 200 day moving average is $6.44. The company has a quick ratio of 3.00, a current ratio of 5.66 and a debt-to-equity ratio of 1.25. Emergent Biosolutions Inc. has a 52-week low of $4.02 and a 52-week high of $12.73.

Emergent Biosolutions (NYSE:EBS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.42. The company had revenue of $140.90 million for the quarter, compared to the consensus estimate of $148.55 million. Emergent Biosolutions had a net margin of 16.38% and a return on equity of 24.63%. Sell-side analysts forecast that Emergent Biosolutions Inc. will post -0.63 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.