Palumbo Wealth Management LLC Invests $425,000 in Emergent Biosolutions Inc. $EBS

Palumbo Wealth Management LLC purchased a new position in Emergent Biosolutions Inc. (NYSE:EBS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 48,196 shares of the biopharmaceutical company’s stock, valued at approximately $425,000.

Several other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC raised its holdings in Emergent Biosolutions by 68.9% during the first quarter. Millennium Management LLC now owns 2,502,488 shares of the biopharmaceutical company’s stock worth $12,162,000 after purchasing an additional 1,020,582 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Emergent Biosolutions by 108.9% in the second quarter. Geode Capital Management LLC now owns 1,278,998 shares of the biopharmaceutical company’s stock valued at $8,162,000 after buying an additional 666,708 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Emergent Biosolutions by 232.1% during the 2nd quarter. Bank of America Corp DE now owns 309,947 shares of the biopharmaceutical company’s stock worth $1,977,000 after buying an additional 216,630 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Emergent Biosolutions by 149.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 279,807 shares of the biopharmaceutical company’s stock worth $2,468,000 after buying an additional 167,423 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. boosted its position in shares of Emergent Biosolutions by 23.1% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 772,771 shares of the biopharmaceutical company’s stock worth $4,930,000 after buying an additional 145,100 shares in the last quarter. 78.40% of the stock is owned by hedge funds and other institutional investors.

Emergent Biosolutions Price Performance

NYSE:EBS opened at $10.91 on Tuesday. Emergent Biosolutions Inc. has a 12-month low of $4.02 and a 12-month high of $14.06. The firm has a market cap of $573.15 million, a price-to-earnings ratio of 8.39 and a beta of 2.35. The company’s 50-day moving average is $11.84 and its two-hundred day moving average is $10.37. The company has a current ratio of 5.76, a quick ratio of 3.15 and a debt-to-equity ratio of 1.14.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EBS shares. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Emergent Biosolutions in a report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Emergent Biosolutions in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded Emergent Biosolutions from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 30th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Emergent Biosolutions presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Insider Buying and Selling at Emergent Biosolutions

In related news, Director Ronald Richard sold 21,984 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $11.97, for a total transaction of $263,148.48. Following the transaction, the director owned 98,417 shares of the company’s stock, valued at approximately $1,178,051.49. This represents a 18.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

About Emergent Biosolutions

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.