Palumbo Wealth Management LLC Takes Position in Emergent Biosolutions Inc. $EBS

Palumbo Wealth Management LLC purchased a new position in shares of Emergent Biosolutions Inc. (NYSE:EBS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 48,196 shares of the biopharmaceutical company’s stock, valued at approximately $425,000. Palumbo Wealth Management LLC owned 0.09% of Emergent Biosolutions at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. LSV Asset Management raised its holdings in shares of Emergent Biosolutions by 6.0% in the third quarter. LSV Asset Management now owns 864,500 shares of the biopharmaceutical company’s stock valued at $7,625,000 after buying an additional 48,909 shares during the last quarter. Profund Advisors LLC increased its position in Emergent Biosolutions by 23.9% in the 3rd quarter. Profund Advisors LLC now owns 20,425 shares of the biopharmaceutical company’s stock valued at $180,000 after acquiring an additional 3,937 shares during the period. Allianz Asset Management GmbH increased its position in Emergent Biosolutions by 149.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 279,807 shares of the biopharmaceutical company’s stock valued at $2,468,000 after acquiring an additional 167,423 shares during the period. AlphaQuest LLC purchased a new stake in Emergent Biosolutions during the 3rd quarter valued at approximately $175,000. Finally, New York State Common Retirement Fund lifted its position in Emergent Biosolutions by 32.6% during the 3rd quarter. New York State Common Retirement Fund now owns 522,004 shares of the biopharmaceutical company’s stock worth $4,604,000 after acquiring an additional 128,429 shares during the period. 78.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Emergent Biosolutions

In other news, Director Ronald Richard sold 21,984 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $11.97, for a total value of $263,148.48. Following the completion of the transaction, the director owned 98,417 shares in the company, valued at $1,178,051.49. This trade represents a 18.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is currently owned by company insiders.

Emergent Biosolutions Stock Down 0.2%

EBS opened at $10.91 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 5.76 and a quick ratio of 3.15. Emergent Biosolutions Inc. has a 12 month low of $4.02 and a 12 month high of $14.06. The stock has a market capitalization of $573.15 million, a P/E ratio of 8.39 and a beta of 2.35. The business has a 50 day simple moving average of $11.84 and a 200-day simple moving average of $10.37.

Wall Street Analysts Forecast Growth

EBS has been the topic of a number of recent research reports. Wall Street Zen raised Emergent Biosolutions from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Emergent Biosolutions in a report on Monday, December 29th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Emergent Biosolutions in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.00.

Emergent Biosolutions Company Profile

Emergent BioSolutions is a global specialty biopharmaceutical company focused on developing, manufacturing and commercializing medical countermeasures and specialty products that address public health threats. The company’s portfolio includes vaccines, antibody therapies and critical care products designed to protect against biological, chemical and emerging infectious disease threats. Emergent has longstanding partnerships with government agencies, including the U.S. Department of Defense and the Biomedical Advanced Research and Development Authority (BARDA), to support national preparedness programs.

Key commercial products in Emergent’s lineup include BioThrax (anthrax vaccine adsorbed), ACAM2000 (smallpox vaccine) and Vaxchora (cholera vaccine), alongside therapeutic treatments such as Anthrasil (anthrax immune globulin) and the naloxone-based nasal spray Narcan for opioid overdose reversal.