Immunomedics Inc. (IMMU) Shares Down 6.7%
Immunomedics Inc. (NASDAQ:IMMU) shares fell 6.7% during trading on Monday . The company traded as low as $2.50 and last traded at $2.50, with a volume of 674,793 shares. The stock had previously closed at $2.68.
A number of research firms have commented on IMMU. Zacks Investment Research raised Immunomedics from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Wells Fargo & Co. downgraded Immunomedics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 21st. Finally, Jefferies Group reissued a “buy” rating and issued a $5.00 price target on shares of Immunomedics in a report on Monday, June 6th.
The company’s market cap is $245.54 million. The stock has a 50 day moving average of $2.66 and a 200 day moving average of $2.76.
Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. On average, analysts forecast that Immunomedics Inc. will post ($0.57) earnings per share for the current year.
In other Immunomedics news, Chairman David M. Goldenberg sold 353,010 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $3.88, for a total value of $1,369,678.80. Following the sale, the chairman now owns 2,602,063 shares in the company, valued at $10,096,004.44. 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 41,441 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $3.62, for a total transaction of $150,016.42. Following the completion of the sale, the chief executive officer now owns 703,029 shares in the company, valued at approximately $2,544,964.98. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Immunomedics stock. Marshall Wace LLP bought a new position in shares of Immunomedics Inc. (NASDAQ:IMMU) during the fourth quarter, according to its most recent filing 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 approximately 0.90% of Immunomedics as of its most recent filing with the SEC.
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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