Immunomedics Inc. (IMMU) Sees Large Volume Increase
Immunomedics Inc. (NASDAQ:IMMU) saw unusually-strong trading volume on Thursday . Approximately 993,247 shares traded hands during trading, an increase of 2% from the previous session’s volume of 975,205 shares.The stock last traded at $2.96 and had previously closed at $2.87.
Several research analysts recently issued reports on IMMU shares. Wells Fargo & Co. cut shares of 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 report on Tuesday, May 10th. Finally, Jefferies Group raised shares of 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.
The company’s market capitalization is $274.93 million. The stock’s 50-day moving average price is $2.61 and its 200 day moving average price is $2.86.
Immunomedics (NASDAQ:IMMU) last released its earnings results on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.06. Equities analysts anticipate that Immunomedics Inc. will post ($0.48) EPS for the current year.
In other news, CEO Cynthia L. Goldenberg sold 371,990 shares of Immunomedics stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $3.03, for a total value of $1,127,129.70. Following the completion of the transaction, the chief executive officer now directly owns 650,396 shares of the company’s stock, valued at approximately $1,970,699.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David M. Goldenberg sold 12,300 shares of Immunomedics stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $3.98, for a total transaction of $48,954.00. Following the completion of the transaction, the chairman now directly 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 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 firm purchased 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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