Allspring Global Investments Holdings LLC Decreases Stock Position in ADMA Biologics, Inc. (NASDAQ:ADMA)

Allspring Global Investments Holdings LLC lessened its holdings in ADMA Biologics, Inc. (NASDAQ:ADMA) by 16.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 210,794 shares of the biotechnology company’s stock after selling 41,808 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.09% of ADMA Biologics worth $2,357,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Mesirow Institutional Investment Management Inc. acquired a new stake in ADMA Biologics in the 1st quarter worth approximately $17,221,000. Rice Hall James & Associates LLC acquired a new stake in shares of ADMA Biologics during the first quarter worth $7,963,000. Castleark Management LLC purchased a new stake in shares of ADMA Biologics during the first quarter valued at $5,400,000. Hillsdale Investment Management Inc. increased its position in shares of ADMA Biologics by 41,893.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 629,900 shares of the biotechnology company’s stock valued at $4,157,000 after acquiring an additional 628,400 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in ADMA Biologics by 90.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,169,207 shares of the biotechnology company’s stock worth $7,717,000 after acquiring an additional 556,175 shares during the last quarter. Hedge funds and other institutional investors own 75.68% of the company’s stock.

ADMA Biologics Stock Up 0.5 %

Shares of ADMA stock opened at $17.31 on Tuesday. ADMA Biologics, Inc. has a twelve month low of $3.06 and a twelve month high of $18.48. The stock has a market cap of $4.01 billion, a P/E ratio of -865.50 and a beta of 0.55. The stock has a 50 day moving average of $13.99 and a 200 day moving average of $9.77. The company has a current ratio of 6.87, a quick ratio of 2.80 and a debt-to-equity ratio of 0.74.

ADMA Biologics (NASDAQ:ADMA) last posted its earnings results on Thursday, August 8th. The biotechnology company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. ADMA Biologics had a net margin of 10.53% and a return on equity of 38.79%. The firm had revenue of $107.20 million during the quarter, compared to analyst estimates of $86.44 million. During the same period in the previous year, the firm earned ($0.02) EPS. The business’s quarterly revenue was up 78.4% on a year-over-year basis. As a group, sell-side analysts expect that ADMA Biologics, Inc. will post 0.49 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Cantor Fitzgerald boosted their price target on ADMA Biologics from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. HC Wainwright upped their target price on ADMA Biologics from $10.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Mizuho raised their price target on shares of ADMA Biologics from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Raymond James upped their price objective on shares of ADMA Biologics from $8.00 to $10.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $15.50.

Insiders Place Their Bets

In other news, CEO Adam S. Grossman sold 236,889 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $17.69, for a total transaction of $4,190,566.41. Following the sale, the chief executive officer now directly owns 2,059,726 shares in the company, valued at approximately $36,436,552.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jerrold B. Grossman sold 136,861 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $17.27, for a total transaction of $2,363,589.47. Following the completion of the transaction, the director now directly owns 467,305 shares of the company’s stock, valued at approximately $8,070,357.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam S. Grossman sold 236,889 shares of ADMA Biologics stock in a transaction on Monday, August 26th. The shares were sold at an average price of $17.69, for a total transaction of $4,190,566.41. Following the completion of the sale, the chief executive officer now directly owns 2,059,726 shares in the company, valued at approximately $36,436,552.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 557,900 shares of company stock worth $9,129,891. Company insiders own 3.70% of the company’s stock.

About ADMA Biologics

ADMA Biologics, Inc, a biopharmaceutical company, engages in developing, manufacturing, and marketing specialty plasma-derived biologics for the treatment of immune deficiencies and infectious diseases in the United States and internationally. The company offers BIVIGAM, an intravenous immune globulin (IVIG) product indicated for the treatment of primary humoral immunodeficiency (PI); ASCENIV, an IVIG product for the treatment of PI; and Nabi-HB for the treatment of acute exposure to blood containing Hepatitis B surface antigen and other listed exposures to Hepatitis B.