Immunomedics Inc. (IMMU) Stock Price Down 6.2%
Immunomedics Inc. (NASDAQ:IMMU) shares were down 6.2% during mid-day trading on Tuesday . The stock traded as low as $2.81 and last traded at $2.88, with a volume of 892,756 shares changing hands. The stock had previously closed at $3.07.
Several research analysts have issued reports on IMMU shares. Wells Fargo & Co. cut Immunomedics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 21st. Zacks Investment Research cut shares of Immunomedics from a “buy” rating to a “sell” rating in a research report on Tuesday, May 10th. Finally, Jefferies Group upgraded shares of Immunomedics from a “hold” rating to a “buy” rating and lifted their price objective 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.
The firm has a 50-day moving average of $2.55 and a 200-day moving average of $2.85. The stock’s market cap is $265.45 million.
In other news, CEO Cynthia L. Goldenberg sold 63,959 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $4.09, for a total transaction of $261,592.31. Following the sale, the chief executive officer now directly owns 703,029 shares of the company’s stock, valued at $2,875,388.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David M. Goldenberg sold 12,300 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $3.98, for a total transaction of $48,954.00. Following the sale, the chairman now directly owns 2,602,063 shares in the company, valued at $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 purchased a new stake in shares of Immunomedics Inc. (NASDAQ:IMMU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 857,062 shares of the biopharmaceutical company’s stock, valued at approximately $2,631,000. Marshall Wace LLP owned approximately 0.90% of Immunomedics at the end of the most recent reporting period.
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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