Squarepoint Ops LLC Reduces Stake in Emergent Biosolutions Inc. $EBS

Key Points

• Squarepoint Ops LLC cut its Emergent BioSolutions stake by 50.6% in the second quarter, selling 151,433 shares and retaining 148,016 shares worth approximately $1.24 million. Institutional investors collectively own 78.4% of EBS.
• Emergent BioSolutions reported quarterly revenue of $234.3 million and adjusted earnings of $0.60 per share, exceeding analysts’ estimates of $177.5 million in revenue and a loss of $0.08 per share.
• EBS opened at $6.76, well below its 12-month high of $14.06. Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $10.00.

Squarepoint Ops LLC reduced its holdings in Emergent Biosolutions Inc. (NYSE:EBS - Free Report) by 50.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 148,016 shares of the biopharmaceutical company's stock after selling 151,433 shares during the quarter. Squarepoint Ops LLC owned about 0.29% of Emergent Biosolutions worth $1,240,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Emergent Biosolutions during the second quarter valued at approximately $39,525,000. Dimensional Fund Advisors LP boosted its holdings in Emergent Biosolutions by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,757,158 shares of the biopharmaceutical company's stock valued at $22,884,000 after acquiring an additional 504,553 shares in the last quarter. LSV Asset Management increased its position in Emergent Biosolutions by 4.2% during the 4th quarter. LSV Asset Management now owns 901,000 shares of the biopharmaceutical company's stock valued at $11,136,000 after purchasing an additional 36,500 shares during the period. Ancora Advisors LLC purchased a new position in Emergent Biosolutions during the 2nd quarter valued at $8,949,000. Finally, Renaissance Technologies LLC raised its holdings in Emergent Biosolutions by 13.7% in the 1st quarter. Renaissance Technologies LLC now owns 656,047 shares of the biopharmaceutical company's stock worth $5,445,000 after purchasing an additional 78,900 shares in the last quarter. 78.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Emergent Biosolutions news, SVP Paul Williams sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $8.40, for a total transaction of $25,200.00. Following the completion of the transaction, the senior vice president owned 159,098 shares of the company's stock, valued at approximately $1,336,423.20. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.00% of the company's stock.

Emergent Biosolutions Stock Performance

Shares of EBS stock opened at $6.76 on Thursday. Emergent Biosolutions Inc. has a 12 month low of $4.36 and a 12 month high of $14.06. The stock has a market cap of $346.79 million, a PE ratio of -1.91 and a beta of 2.34. The company has a current ratio of 5.42, a quick ratio of 2.95 and a debt-to-equity ratio of 1.70. The company's fifty day moving average price is $6.35 and its 200-day moving average price is $7.63.

Emergent Biosolutions (NYSE:EBS - Get Free Report) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.68. Emergent Biosolutions had a negative net margin of 22.95% and a positive return on equity of 16.35%. The firm had revenue of $234.30 million for the quarter, compared to the consensus estimate of $177.50 million. On average, equities analysts expect that Emergent Biosolutions Inc. will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EBS has been the topic of a number of research reports. UBS Group reaffirmed a "buy" rating on shares of Emergent Biosolutions in a research note on Tuesday, June 2nd. Weiss Ratings raised shares of Emergent Biosolutions from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Benchmark restated a "buy" rating on shares of Emergent Biosolutions in a report on Tuesday, June 2nd. Zacks Research raised Emergent Biosolutions to a "hold" rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. initiated coverage on Emergent Biosolutions in a report on Friday, August 21st. They set an "underweight" rating on the stock. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.00.

Emergent Biosolutions Company Profile

Emergent BioSolutions Inc is a life sciences company focused on developing, manufacturing and supplying medical countermeasures and other products intended to address public health threats. Its activities include vaccines, therapeutics and treatments for infectious diseases, overdoses and other emergency health situations, as well as contract development and manufacturing services for pharmaceutical and biotechnology companies.

The company's portfolio has included BioThrax, an anthrax vaccine, and ACAM2000, a smallpox vaccine supplied primarily for preparedness programs.

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