Immunomedics Inc. (IMMU) Stock Price Up 4.9%
Immunomedics Inc. (NASDAQ:IMMU) rose 4.9% on Monday . The company traded as high as $2.84 and last traded at $2.78, with a volume of 650,868 shares changing hands. The stock had previously closed at $2.65.
A number of research analysts have recently issued reports on IMMU shares. Jefferies Group upgraded Immunomedics from a “hold” rating to a “buy” rating and lifted their price target for the company from $1.50 to $5.00 in a report on Friday, May 6th. They noted that the move was a valuation call. Zacks Investment Research upgraded Immunomedics from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Tuesday, April 5th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Immunomedics in a report on Tuesday, May 24th.
The company’s market cap is $255.02 million. The stock’s 50-day moving average price is $2.47 and its 200 day moving average price is $2.79.
Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.02. Analysts anticipate that Immunomedics Inc. will post ($0.57) earnings per share for the current fiscal year.
In related news, Chairman David M. Goldenberg sold 353,010 shares of the stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $3.88, for a total value of $1,369,678.80. Following the completion of the transaction, the chairman now directly owns 2,602,063 shares in the company, valued at $10,096,004.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David M. Goldenberg sold 12,300 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $3.98, for a total value of $48,954.00. Following the completion of the transaction, the chairman now owns 2,602,063 shares of the company’s stock, valued at $10,356,210.74. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Immunomedics stock. Marshall Wace LLP acquired a new stake in Immunomedics Inc. (NASDAQ:IMMU) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 857,062 shares of the biopharmaceutical company’s stock, valued at approximately $2,631,000. Marshall Wace LLP owned 0.90% of Immunomedics at the end of the most recent quarter.
Immunomedics, Inc is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. The Company’s technologies allow it to create humanized antibodies in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
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