Trade Report: Today: Cempra Inc. (CEMP) Sees Large Drop in Short Interest

Today: Cempra Inc. (CEMP) Sees Large Drop in Short Interest

Cempra Inc. (NASDAQ:CEMP) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 7,727,618 shares, a drop of 21.6% from the October 31st total of 9,852,048 shares. Based on an average daily volume of 5,690,271 shares, the short-interest ratio is currently 1.4 days. Approximately 16.9% of the shares of the stock are short sold.

A number of research analysts have recently weighed in on the stock. Needham & Company LLC cut shares of Cempra from a “buy” rating to a “hold” rating in a research note on Wednesday, November 23rd. Gabelli cut shares of Cempra from a “buy” rating to a “hold” rating in a research note on Wednesday, November 23rd. Morgan Stanley cut shares of Cempra from an “overweight” rating to an “underweight” rating and dropped their price objective for the stock from $35.00 to $5.00 in a research note on Wednesday, November 23rd. Cowen and Company cut shares of Cempra from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Finally, Vetr raised shares of Cempra from a “hold” rating to a “strong-buy” rating and set a $9.19 price objective for the company in a research note on Thursday, November 10th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $19.41.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in Cempra by 14.0% in the first quarter. BlackRock Fund Advisors now owns 1,471,812 shares of the company’s stock valued at $25,786,000 after buying an additional 180,832 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Cempra by 19.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 958,391 shares of the company’s stock valued at $16,791,000 after buying an additional 153,916 shares in the last quarter. Franklin Street Advisors Inc. NC raised its stake in Cempra by 4.7% in the second quarter. Franklin Street Advisors Inc. NC now owns 54,100 shares of the company’s stock valued at $892,000 after buying an additional 2,450 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Cempra by 42.9% in the second quarter. Handelsbanken Fonder AB now owns 50,000 shares of the company’s stock valued at $824,000 after buying an additional 15,000 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Cempra during the second quarter valued at approximately $391,000. 77.80% of the stock is owned by institutional investors and hedge funds.

Cempra (NASDAQ:CEMP) opened at 6.60 on Monday. The company’s 50 day moving average is $14.64 and its 200 day moving average is $18.76. Cempra has a 12-month low of $5.70 and a 12-month high of $34.24. The firm’s market cap is $345.71 million.

Cempra (NASDAQ:CEMP) last released its earnings results on Thursday, October 27th. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.02. Cempra had a negative net margin of 678.72% and a negative return on equity of 59.94%. The business earned $4 million during the quarter, compared to analyst estimates of $3.90 million. During the same period in the prior year, the business earned ($0.63) earnings per share. The business’s quarterly revenue was up 60.0% on a year-over-year basis. On average, equities analysts anticipate that Cempra will post ($2.42) earnings per share for the current year.

About Cempra

Related posts

Leave a Comment