Immunomedics, Inc. (IMMU) Trading Down 19.4%
Immunomedics, Inc. (NASDAQ:IMMU) traded down 19.4% during trading on Tuesday . The company traded as low as $9.96 and last traded at $10.00. 9,138,500 shares were traded during mid-day trading, an increase of 197% from the average session volume of 3,074,372 shares. The stock had previously closed at $12.40.
A number of equities research analysts recently commented on the company. Jefferies Group LLC increased their price target on Immunomedics from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, October 9th. Zacks Investment Research raised Immunomedics from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Wednesday, October 4th. BidaskClub raised Immunomedics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Cowen and Company reissued an “outperform” rating and issued a $15.00 price target on shares of Immunomedics in a research report on Monday, July 24th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $15.33.
The company has a debt-to-equity ratio of -0.29, a current ratio of 0.74 and a quick ratio of 0.74.
Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings data on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). The business had revenue of $0.64 million during the quarter, compared to analysts’ expectations of $0.75 million. Immunomedics’s revenue for the quarter was down 31.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) EPS. sell-side analysts anticipate that Immunomedics, Inc. will post -0.41 earnings per share for the current fiscal year.
In other news, Director Cynthia L. Goldenberg sold 40,000 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $10.72, for a total transaction of $428,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David M. Goldenberg sold 20,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $12.64, for a total value of $252,800.00. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock valued at $1,051,200 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of IMMU. Amalgamated Bank grew its stake in shares of Immunomedics by 8.1% during the 2nd quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 966 shares during the period. Stephens Inc. AR bought a new position in shares of Immunomedics during the 2nd quarter worth $115,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Immunomedics by 11.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 1,473 shares during the period. SG Americas Securities LLC grew its stake in shares of Immunomedics by 99.3% during the 2nd quarter. SG Americas Securities LLC now owns 20,719 shares of the biopharmaceutical company’s stock worth $183,000 after acquiring an additional 10,323 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Immunomedics by 38.8% during the 1st quarter. Bank of America Corp DE now owns 33,707 shares of the biopharmaceutical company’s stock worth $218,000 after acquiring an additional 9,426 shares during the period. Institutional investors own 61.41% of the company’s stock.
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Immunomedics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Its geographic segments include United States and Europe. Its technologies allow it to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
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