Immunomedics Inc. (IMMU) Trading Up 5.5%
Immunomedics Inc. (NASDAQ:IMMU) shares were up 5.5% on Thursday . The stock traded as high as $2.90 and last traded at $2.90, with a volume of 300,340 shares traded. The stock had previously closed at $2.75.
Several research analysts have recently weighed in on IMMU shares. Jefferies Group raised shares of Immunomedics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $1.50 to $5.00 in a research report on Friday, May 6th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Immunomedics in a research report on Tuesday, May 24th.
The firm has a 50-day moving average of $2.50 and a 200-day moving average of $2.82. The stock’s market cap is $269.24 million.
In other Immunomedics news, CEO Cynthia L. Goldenberg sold 63,959 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $4.09, for a total transaction of $261,592.31. Following the transaction, the chief executive officer now directly owns 703,029 shares in the company, valued at approximately $2,875,388.61. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman David M. Goldenberg sold 110,322 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $4.09, for a total transaction of $451,216.98. Following the transaction, the chairman now owns 2,602,063 shares in the company, valued at $10,642,437.67. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Immunomedics stock. Marshall Wace LLP bought a new position in shares of Immunomedics Inc. (NASDAQ:IMMU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 857,062 shares of the biopharmaceutical company’s stock, valued at approximately $2,631,000. Marshall Wace LLP owned about 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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