Rhumbline Advisers increased its position in shares of Cempra, Inc. (NASDAQ:CEMP) by 13.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,586 shares of the biotechnology company’s stock after purchasing an additional 7,928 shares during the period. Rhumbline Advisers owned 0.12% of Cempra worth $302,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in CEMP. Asset Management One Co. Ltd. acquired a new stake in Cempra during the first quarter worth about $106,000. Janney Montgomery Scott LLC increased its position in Cempra by 35.6% during the second quarter. Janney Montgomery Scott LLC now owns 25,900 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 6,800 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Cempra during the first quarter worth about $140,000. Dynamic Technology Lab Private Ltd acquired a new stake in Cempra during the first quarter worth about $187,000. Finally, Teachers Advisors LLC increased its position in Cempra by 5.2% during the fourth quarter. Teachers Advisors LLC now owns 93,481 shares of the biotechnology company’s stock worth $262,000 after purchasing an additional 4,632 shares during the last quarter. Hedge funds and other institutional investors own 49.75% of the company’s stock.
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CEMP has been the subject of several recent analyst reports. Jefferies Group LLC restated a “hold” rating and set a $3.00 price objective on shares of Cempra in a research report on Thursday, September 14th. Roth Capital cut shares of Cempra from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.00 to $4.00 in a research report on Thursday, August 10th. Stifel Nicolaus restated a “hold” rating and set a $4.00 price objective on shares of Cempra in a research report on Thursday, August 10th. Finally, Zacks Investment Research cut shares of Cempra from a “hold” rating to a “sell” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.00.
Shares of Cempra, Inc. (NASDAQ:CEMP) opened at 3.20 on Wednesday. Cempra, Inc. has a 12 month low of $2.55 and a 12 month high of $24.48. The firm’s market capitalization is $168.02 million. The firm’s 50 day moving average is $3.09 and its 200-day moving average is $3.73.
Cempra (NASDAQ:CEMP) last announced its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.09. The business 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 company’s revenue was down 74.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.51) EPS. On average, analysts expect that Cempra, Inc. will post ($1.01) EPS for the current fiscal year.
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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