Immunomedics Inc. (IMMU) Trading Down 4.4%
Shares of Immunomedics Inc. (NASDAQ:IMMU) were down 4.4% on Wednesday . The company traded as low as $2.75 and last traded at $2.81, with a volume of 323,233 shares. The stock had previously closed at $2.94.
A number of analysts recently weighed in on IMMU shares. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Immunomedics in a report on Tuesday, May 24th. Zacks Investment Research cut shares of Immunomedics from a “buy” rating to a “sell” rating in a report on Tuesday, May 10th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Immunomedics in a report on Monday, June 6th.
The company’s market capitalization is $260.71 million. The stock’s 50-day moving average price is $2.49 and its 200 day moving average price is $2.82.
In other news, CEO Cynthia L. Goldenberg sold 63,959 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $4.09, for a total value of $261,592.31. Following the sale, the chief executive officer now owns 703,029 shares in the company, valued at $2,875,388.61. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman David M. Goldenberg sold 12,300 shares of the firm’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $3.98, for a total transaction of $48,954.00. Following the completion of the sale, the chairman now owns 2,602,063 shares in the company, valued at approximately $10,356,210.74. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Immunomedics stock. Marshall Wace LLP acquired a new stake in Immunomedics Inc. (NASDAQ:IMMU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 857,062 shares of the biopharmaceutical company’s stock, valued at approximately $2,631,000. Marshall Wace LLP owned 0.90% of Immunomedics as of its most recent filing with the SEC.
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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