Harbor Capital Advisors Inc. Invests $179,000 in Emergent BioSolutions Inc. (NYSE:EBS)

Harbor Capital Advisors Inc. bought a new position in Emergent BioSolutions Inc. (NYSE:EBS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,904 shares of the biopharmaceutical company’s stock, valued at approximately $179,000. Harbor Capital Advisors Inc. owned about 0.07% of Emergent BioSolutions at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. New York State Common Retirement Fund boosted its position in shares of Emergent BioSolutions by 41.7% during the fourth quarter. New York State Common Retirement Fund now owns 306,286 shares of the biopharmaceutical company’s stock valued at $2,928,000 after buying an additional 90,113 shares during the last quarter. Bank of America Corp DE boosted its position in shares of 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 valued at $3,175,000 after buying an additional 14,054 shares during the last quarter. Invesco Ltd. boosted its position in shares of Emergent BioSolutions by 70.9% during the fourth quarter. Invesco Ltd. now owns 1,539,907 shares of the biopharmaceutical company’s stock valued at $14,722,000 after buying an additional 638,995 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Emergent BioSolutions during the fourth quarter valued at $1,831,000. Finally, Barclays PLC boosted its position in shares of Emergent BioSolutions by 140.5% during the fourth quarter. Barclays PLC now owns 94,523 shares of the biopharmaceutical company’s stock valued at $904,000 after buying an additional 55,215 shares during the last quarter. 78.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Emergent BioSolutions

In other news, Director Keith Katkin sold 7,844 shares of Emergent BioSolutions stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $6.30, for a total transaction of $49,417.20. Following the transaction, the director now directly owns 86,431 shares of the company’s stock, valued at $544,515.30. The trade was a 8.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Emergent BioSolutions Stock Down 5.1%

EBS stock opened at $6.27 on Monday. Emergent BioSolutions Inc. has a fifty-two week low of $4.02 and a fifty-two week high of $15.10. The business’s 50-day moving average is $5.65 and its two-hundred day moving average is $7.33. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.47 and a current ratio of 2.88. The company has a market cap of $340.05 million, a price-to-earnings ratio of -1.53 and a beta of 2.10.

Emergent BioSolutions (NYSE:EBS) last posted its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.22. Emergent BioSolutions had a negative return on equity of 9.91% and a negative net margin of 18.55%. The company had revenue of $222.20 million for the quarter, compared to the consensus estimate of $218.50 million. As a group, analysts forecast that Emergent BioSolutions Inc. will post -0.63 earnings per share for the current year.

Emergent BioSolutions declared that its board has authorized a share buyback plan on Monday, March 31st that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to purchase up to 19% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen cut Emergent BioSolutions from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Emergent BioSolutions in a research report on Tuesday, April 1st.

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.