Bank of New York Mellon Corp raised its position in Cempra, Inc. (NASDAQ:CEMP) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,840 shares of the biotechnology company’s stock after buying an additional 11,760 shares during the period. Bank of New York Mellon Corp owned 0.39% of Cempra worth $776,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Teachers Advisors LLC raised its stake in Cempra by 5.2% in the fourth quarter. Teachers Advisors LLC now owns 93,481 shares of the biotechnology company’s stock worth $262,000 after buying an additional 4,632 shares during the last quarter. Franklin Street Advisors Inc. NC raised its stake in Cempra by 88.4% in the first quarter. Franklin Street Advisors Inc. NC now owns 85,250 shares of the biotechnology company’s stock worth $320,000 after buying an additional 40,000 shares during the last quarter. Bank of Montreal Can raised its stake in Cempra by 187.8% in the first quarter. Bank of Montreal Can now owns 113,933 shares of the biotechnology company’s stock worth $428,000 after buying an additional 74,343 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Cempra during the first quarter worth approximately $484,000. Finally, Guggenheim Capital LLC acquired a new stake in Cempra during the fourth quarter worth approximately $560,000. 52.39% of the stock is owned by institutional investors and hedge funds.
Shares of Cempra, Inc. (CEMP) opened at 2.95 on Friday. The firm’s 50-day moving average price is $3.97 and its 200 day moving average price is $3.84. The company’s market cap is $154.90 million. Cempra, Inc. has a 12-month low of $2.55 and a 12-month high of $26.95.
Cempra (NASDAQ:CEMP) last released its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.09. The firm had revenue of $0.86 million for the quarter, compared to analyst estimates of $3.58 million. Cempra had a negative net margin of 560.40% and a negative return on equity of 53.99%. The business’s revenue for the quarter was down 74.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.51) EPS. On average, analysts predict that Cempra, Inc. will post ($1.01) earnings per share for the current year.
A number of analysts have commented on CEMP shares. Zacks Investment Research raised Cempra from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Friday, August 11th. Jefferies Group LLC reissued a “hold” rating and issued a $3.00 target price on shares of Cempra in a report on Thursday, May 25th. Stifel Nicolaus reissued a “hold” rating and issued a $4.00 target price on shares of Cempra in a report on Thursday, August 10th. Roth Capital lowered Cempra from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $8.00 to $4.00 in a report on Thursday, August 10th. Finally, ValuEngine lowered Cempra from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cempra currently has an average rating of “Hold” and an average price target of $11.38.
Cempra, Inc is a clinical-stage pharmaceutical company. The Company focuses on developing differentiated antibiotics for the acute care and community settings to meet medical needs in the treatment of bacterial infectious diseases. Its product, solithromycin (CEM-101), which is a macrolide and fluoroketolide, is being developed in oral capsules, intravenous (IV) and suspension formulations for the treatment of community-acquired bacterial pneumonia (CABP).
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