Immunomedics Inc. (IMMU) Stock Price Up 5.5%
Immunomedics Inc. (NASDAQ:IMMU) rose 5.5% during mid-day trading 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.
IMMU has been the subject of several recent analyst reports. Jefferies Group upgraded Immunomedics from a “hold” rating to a “buy” rating and increased their price target for the stock 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 downgraded Immunomedics from a “buy” rating to a “sell” rating in a report on Tuesday, May 10th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Immunomedics in a research report on Tuesday, May 24th.
The stock’s market capitalization is $276.83 million. The firm has a 50-day moving average of $2.52 and a 200-day moving average of $2.83.
In other Immunomedics news, Chairman David M. Goldenberg sold 12,300 shares of Immunomedics stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $3.98, for a total transaction of $48,954.00. Following the transaction, the chairman now directly owns 2,602,063 shares of the company’s stock, valued at approximately $10,356,210.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cynthia L. Goldenberg sold 371,990 shares of Immunomedics stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $3.03, for a total value of $1,127,129.70. Following the transaction, the chief executive officer now directly owns 650,396 shares in the company, valued at $1,970,699.88. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Immunomedics stock. Marshall Wace LLP bought a new stake in Immunomedics Inc. (NASDAQ:IMMU) during the fourth quarter, according to its most recent disclosure with the SEC. 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 SEC filing.
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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