PNC Financial Services Group Inc. has increased its stake in ADMA Biologics Inc. by 18.7% during the second quarter of 2023. The information comes from the company’s latest filing with the Securities and Exchange Commission (SEC). Following this adjustment, PNC now holds a total of 27,698 shares of the biotechnology firm after acquiring an additional 4,373 shares. As of the most recent SEC disclosure, PNC’s investment in ADMA Biologics is valued at approximately $504,000.
Several other institutional investors have also adjusted their holdings in ADMA Biologics. In the first quarter, Skandinaviska Enskilda Banken AB and SVB Wealth LLC both acquired new positions in the company, each investing around $35,000. During the same period, Cullen Frost Bankers Inc. increased its stake by 112.5%, bringing its total to 2,042 shares valued at $37,000 after purchasing an additional 1,081 shares. Smartleaf Asset Management LLC has also expanded its holdings by 161.4%, now owning 2,418 shares worth $49,000. Additionally, Ameritas Advisory Services LLC entered the market with a new stake valued at $46,000. Currently, institutional investors control approximately 75.68% of ADMA Biologics’ stock.
ADMA Biologics Stock Overview
On Monday, shares of ADMA Biologics opened at $17.18. The company showcases strong liquidity with a quick ratio of 2.78 and a current ratio of 5.33, along with a low debt-to-equity ratio of 0.21. The stock’s fifty-day moving average stands at $15.23, while its two-hundred-day moving average is $17.31. Over the past year, ADMA Biologics has experienced a low of $13.50 and a high of $25.67, contributing to a market capitalization of $4.09 billion. The company has a price-to-earnings ratio of 19.98 and a beta of 0.40, indicating lower volatility compared to the broader market.
In a recent report, Weiss Ratings downgraded ADMA Biologics from a “buy (b-)” rating to a “hold (c+)” rating, which may impact market sentiment surrounding the company. Currently, one equity analyst has issued a Strong Buy rating, another has given a Buy rating, and one has rated the stock as Hold. According to data from MarketBeat, ADMA Biologics has a consensus rating of “Buy,” with an average price target of $28.50.
Company Profile and Market Position
ADMA Biologics, Inc. is a biopharmaceutical firm dedicated to developing, manufacturing, and marketing specialty plasma-derived biologics aimed at treating immune deficiencies and infectious diseases. The company offers several products, including BIVIGAM, an intravenous immune globulin product for primary humoral immunodeficiency, and ASCENIV, also an intravenous immune globulin product for similar indications. Furthermore, ADMA provides Nabi-HB, which is indicated for acute exposure to blood containing Hepatitis B surface antigen.
As ADMA Biologics continues to navigate the biopharmaceutical landscape, its increasing institutional backing and market performance reflect growing investor confidence in its potential for future growth and innovation in treating critical health issues.
