Pitcairn Co. acquired a new stake in Cambrex Co. (NYSE:CBM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,700 shares of the biotechnology company’s stock, valued at approximately $253,000.
Other large investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Cambrex during the 2nd quarter worth approximately $178,000. Zebra Capital Management LLC bought a new stake in shares of Cambrex during the 2nd quarter worth approximately $200,000. D.A. Davidson & CO. bought a new stake in shares of Cambrex during the 2nd quarter worth approximately $216,000. Xact Kapitalforvaltning AB bought a new stake in shares of Cambrex during the 1st quarter worth approximately $243,000. Finally, Telemus Capital LLC bought a new stake in shares of Cambrex during the 3rd quarter worth approximately $243,000.
Shares of NYSE CBM opened at $50.80 on Friday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.97 and a beta of 2.42. Cambrex Co. has a twelve month low of $44.80 and a twelve month high of $69.43.
CBM has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Cambrex in a research note on Tuesday, September 25th. They set a “buy” rating and a $75.50 price target for the company. Zacks Investment Research raised Cambrex from a “hold” rating to a “strong-buy” rating and set a $73.00 price target for the company in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $74.25.
In other Cambrex news, CFO Tom George Vadaketh sold 9,510 shares of Cambrex stock in a transaction on Monday, August 20th. The stock was sold at an average price of $63.42, for a total transaction of $603,124.20. Following the completion of the sale, the chief financial officer now directly owns 9,510 shares of the company’s stock, valued at approximately $603,124.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven M. Klosk sold 20,000 shares of Cambrex stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $54.76, for a total value of $1,095,200.00. Following the sale, the chief executive officer now directly owns 103,328 shares of the company’s stock, valued at $5,658,241.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,510 shares of company stock valued at $5,344,824. 2.42% of the stock is currently owned by corporate insiders.
Cambrex Corporation, a life sciences company, provides various products and services for the development and commercialization of new and generic therapeutics worldwide. Its products comprise active pharmaceutical ingredients and pharmaceutical intermediates that are used in the production of prescription and over-the-counter drug products, as well as other fine chemicals.
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