Immunomedics Inc. (NASDAQ:IMMU)’s share price traded down 4% during mid-day trading on Thursday . The stock traded as low as $2.66 and last traded at $2.66, with a volume of 350,614 shares trading hands. The stock had previously closed at $2.77.

IMMU has been the topic of several recent research reports. Zacks Investment Research cut Immunomedics from a “hold” rating to a “strong sell” rating in a research note on Monday, August 22nd. Wells Fargo & Co. cut Immunomedics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 21st. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $5.00 price target on shares of Immunomedics in a research note on Monday, June 6th.

The stock’s market cap is $256.92 million. The firm has a 50 day moving average of $2.73 and a 200 day moving average of $2.92.

Immunomedics (NASDAQ:IMMU) last announced its quarterly 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. Equities analysts predict that Immunomedics Inc. will post ($0.47) EPS for the current year.

In other news, Chairman David M. Goldenberg sold 110,322 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $4.09, for a total value of $451,216.98. Following the completion of the sale, the chairman now directly owns 2,602,063 shares of the company’s stock, valued at approximately $10,642,437.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cynthia L. Goldenberg sold 63,959 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 703,029 shares of the company’s stock, valued at $2,875,388.61. The disclosure for this sale can be found here.

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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