IronBridge Capital Management LP Has $12.039 Million Position in Cambrex Co. (CBM)

IronBridge Capital Management LP lowered its stake in shares of Cambrex Co. (NYSE:CBM) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 218,687 shares of the biotechnology company’s stock after selling 19,660 shares during the period. IronBridge Capital Management LP owned approximately 0.67% of Cambrex worth $12,039,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CBM. Quantbot Technologies LP raised its stake in Cambrex by 311.6% in the first quarter. Quantbot Technologies LP now owns 3,980 shares of the biotechnology company’s stock valued at $219,000 after buying an additional 3,013 shares during the last quarter. Quantum Capital Management purchased a new stake in Cambrex during the first quarter valued at approximately $246,000. Chatham Capital Group Inc. purchased a new stake in Cambrex during the first quarter valued at approximately $798,000. Congress Asset Management Co. MA raised its stake in Cambrex by 11.8% in the first quarter. Congress Asset Management Co. MA now owns 1,193,123 shares of the biotechnology company’s stock valued at $65,681,000 after buying an additional 125,996 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Cambrex by 22.4% in the first quarter. Envestnet Asset Management Inc. now owns 12,198 shares of the biotechnology company’s stock valued at $672,000 after buying an additional 2,232 shares during the last quarter. 98.23% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Cambrex (NYSE:CBM)

Shares of Cambrex Co. (NYSE:CBM) traded up 1.26% during trading on Friday, hitting $52.15. 264,042 shares of the company traded hands. The company has a 50-day moving average of $55.46 and a 200-day moving average of $53.11. The stock has a market capitalization of $1.70 billion, a PE ratio of 19.85 and a beta of 1.95. Cambrex Co. has a 52-week low of $38.30 and a 52-week high of $62.95.

Cambrex (NYSE:CBM) last announced its quarterly earnings results on Thursday, May 4th. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.17. The firm had revenue of $105.01 million during the quarter, compared to the consensus estimate of $99.05 million. Cambrex had a return on equity of 24.53% and a net margin of 16.65%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 earnings per share. Equities analysts expect that Cambrex Co. will post $3.02 EPS for the current year.

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Several analysts have commented on the stock. Zacks Investment Research raised shares of Cambrex from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Thursday, May 11th. Stephens set a $61.00 price target on shares of Cambrex and gave the company a “buy” rating in a research report on Monday, February 6th. Finally, Craig Hallum set a $70.00 price target on shares of Cambrex and gave the company a “buy” rating in a research report on Monday, February 6th.

In related news, CEO Steven M. Klosk sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $58.20, for a total value of $698,400.00. Following the completion of the transaction, the chief executive officer now directly owns 95,328 shares of the company’s stock, valued at $5,548,089.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Shawn Cavanagh sold 19,620 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $55.95, for a total value of $1,097,739.00. Following the completion of the transaction, the chief operating officer now directly owns 17,658 shares of the company’s stock, valued at $987,965.10. The disclosure for this sale can be found here. Insiders sold 55,620 shares of company stock valued at $3,131,499 over the last ninety days. 2.63% of the stock is currently owned by corporate insiders.

Cambrex Company Profile

Cambrex Corporation (Cambrex) is a life sciences company. It provides products and services for the development and commercialization of generic therapeutics. It operates through four segments, which are manufacturing facilities that have been aggregated as a single segment. Its manufacturing facilities are owned by the subsidiaries, including Cambrex Charles City, Inc, Cambrex Karlskoga AB and Cambrex Profarmaco Milano S.r.l.

12 Month Chart for NYSE:CBM

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