Cambrex Corp. (CBM) Trading 2.8% Higher
Cambrex Corp. (NYSE:CBM)’s share price rose 2.8% during mid-day trading on Wednesday . The stock traded as high as $51.85 and last traded at $51.10, with a volume of 339,488 shares trading hands. The stock had previously closed at $49.73.
Separately, Zacks Investment Research cut Cambrex Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th.
The firm’s 50-day moving average is $52.70 and its 200-day moving average is $45.18. The stock has a market cap of $1.66 billion and a PE ratio of 26.57.
Cambrex Corp. (NYSE:CBM) last issued its earnings results on Friday, April 29th. The company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.16. The company had revenue of $94.74 million for the quarter, compared to analysts’ expectations of $83.61 million. The business’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. Equities analysts predict that Cambrex Corp. will post $2.56 earnings per share for the current fiscal year.
In related news, Director William B. Korb sold 8,000 shares of Cambrex Corp. stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $49.09, for a total transaction of $392,720.00. Following the transaction, the director now directly owns 32,562 shares of the company’s stock, valued at $1,598,468.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven M. Klosk sold 16,430 shares of Cambrex Corp. stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $49.13, for a total transaction of $807,205.90. Following the transaction, the chief executive officer now directly owns 136,828 shares in the company, valued at $6,722,359.64. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. Pear Tree Advisors Inc. purchased a new position in Cambrex Corp. during the fourth quarter valued at about $1,008,000. Dimensional Fund Advisors LP raised its position in Cambrex Corp. by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,589,449 shares of the company’s stock valued at $74,848,000 after buying an additional 47,279 shares in the last quarter. Redwood Investments LLC raised its position in Cambrex Corp. by 28.9% in the fourth quarter. Redwood Investments LLC now owns 45,791 shares of the company’s stock valued at $2,156,000 after buying an additional 10,259 shares in the last quarter. Century Capital Management LLC raised its position in Cambrex Corp. by 13.5% in the fourth quarter. Century Capital Management LLC now owns 353,591 shares of the company’s stock valued at $16,651,000 after buying an additional 42,189 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Cambrex Corp. by 13,241.1% in the fourth quarter. Victory Capital Management Inc. now owns 142,483 shares of the company’s stock valued at $6,710,000 after buying an additional 141,415 shares in the last quarter.
Cambrex Corporation (Cambrex) is a life sciences company. The Company provides products and services for the development and commercialization of new and generic therapeutics. The Company supplies its products and services across the world to generic pharmaceutical companies. Cambrex operates through three segments, which are manufacturing facilities.
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