Trexquant Investment LP Cuts Stock Position in Emergent Biosolutions Inc. $EBS

Key Points

• Trexquant Investment LP reduced its stake in Emergent Biosolutions by 35.9%, selling 251,896 shares during the first quarter, bringing its total ownership to approximately 0.83% of the company.
• Emergent Biosolutions' stock performance shows a 12-month low of $4.02 and a high of $12.73, with shares opening at $7.61 recently.
• Following an earnings report, Emergent beat expectations with a reported $0.16 earnings per share for the quarter, despite lower revenue than projected at $140.90 million.

Trexquant Investment LP trimmed its stake in shares of Emergent Biosolutions Inc. (NYSE:EBS - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 449,621 shares of the biopharmaceutical company's stock after selling 251,896 shares during the period. Trexquant Investment LP owned about 0.83% of Emergent Biosolutions worth $2,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prescott Group Capital Management L.L.C. grew its holdings in 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 period. Bank of America Corp DE grew its holdings in Emergent Biosolutions by 4.4% during the fourth quarter. Bank of America Corp DE now owns 332,099 shares of the biopharmaceutical company's stock worth $3,175,000 after acquiring an additional 14,054 shares during the period. New York State Common Retirement Fund grew its holdings in Emergent Biosolutions by 22.4% during the first quarter. New York State Common Retirement Fund now owns 375,034 shares of the biopharmaceutical company's stock worth $1,823,000 after acquiring an additional 68,748 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Emergent Biosolutions during the first quarter worth about $179,000. Finally, Cetera Investment Advisers boosted its position in Emergent Biosolutions by 28.5% during the first quarter. Cetera Investment Advisers now owns 356,281 shares of the biopharmaceutical company's stock worth $1,732,000 after purchasing an additional 79,034 shares in the last quarter. 78.40% of the stock is owned by institutional investors and hedge funds.

Emergent Biosolutions Trading Down 3.6%

EBS stock traded down $0.30 during midday trading on Wednesday, hitting $7.96. 937,498 shares of the company's stock were exchanged, compared to its average volume of 995,994. The business has a 50-day simple moving average of $7.66 and a two-hundred day simple moving average of $6.43. The company has a current ratio of 5.66, a quick ratio of 3.00 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $424.88 million, a PE ratio of 3.25 and a beta of 2.04. Emergent Biosolutions Inc. has a 1-year low of $4.02 and a 1-year high of $12.73.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EBS. Wall Street Zen downgraded Emergent Biosolutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. HC Wainwright reiterated a "buy" rating and set a $15.00 price target on shares of Emergent Biosolutions in a research report on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, Emergent Biosolutions currently has an average rating of "Buy" and an average target price of $14.33.

Insider Buying and Selling at Emergent Biosolutions

In other Emergent Biosolutions news, Director Donald W. Degolyer sold 7,844 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $8.65, for a total transaction of $67,850.60. Following the completion of the sale, the director owned 137,659 shares of the company's stock, valued at $1,190,750.35. This trade represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn C. Zoon sold 7,086 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $8.87, for a total value of $62,852.82. Following the sale, the director directly owned 71,799 shares of the company's stock, valued at approximately $636,857.13. This trade represents a 8.98% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

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.