Immunomedics Inc. (IMMU) Sees Strong Trading Volume
Immunomedics Inc. (NASDAQ:IMMU) shares saw unusually-high trading volume on Thursday . Approximately 993,247 shares were traded 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.
IMMU has been the topic of several recent analyst reports. Jefferies Group upgraded shares of Immunomedics from a “hold” rating to a “buy” rating and upped their price objective for the company 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 upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Immunomedics in a report on Tuesday, May 24th.
The firm has a 50-day moving average of $2.62 and a 200 day moving average of $2.86. The firm’s market cap is $273.98 million.
Immunomedics (NASDAQ:IMMU) last announced its earnings results on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.06. Analysts expect that Immunomedics Inc. will post ($0.47) earnings per share 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 stock was 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 owns 650,396 shares in the company, valued at approximately $1,970,699.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cynthia L. Goldenberg sold 63,959 shares of Immunomedics stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $4.09, for a total value of $261,592.31. Following the completion of the transaction, the chief executive officer now owns 703,029 shares of the company’s stock, valued at approximately $2,875,388.61. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Immunomedics stock. Marshall Wace LLP acquired a new stake in shares of Immunomedics Inc. (NASDAQ:IMMU) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 857,062 shares of the biopharmaceutical company’s stock, valued at approximately $2,631,000. Marshall Wace LLP owned about 0.90% of Immunomedics at the end of the most recent quarter.
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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