ImmuCell (NASDAQ:ICCC) Issues Quarterly Earnings Results, Beats Estimates By $0.15 EPS

ImmuCell (NASDAQ:ICCC) announced its quarterly earnings data on Thursday. The biotechnology company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15, FiscalAI reports. ImmuCell had a negative net margin of 1.82% and a negative return on equity of 1.88%. The company had revenue of $7.19 million during the quarter, compared to analyst estimates of $5.40 million.

ImmuCell Price Performance

NASDAQ:ICCC traded down $0.89 during trading hours on Friday, reaching $10.01. 55,987 shares of the company were exchanged, compared to its average volume of 24,465. The firm has a market cap of $90.56 million, a PE ratio of -166.82 and a beta of 0.54. ImmuCell has a twelve month low of $4.52 and a twelve month high of $12.10. The stock’s 50-day moving average is $10.50 and its 200-day moving average is $8.50. The company has a current ratio of 4.82, a quick ratio of 2.60 and a debt-to-equity ratio of 0.24.

Insider Activity

In other news, CEO Boekhorst Paul Francis Oliv Te purchased 8,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of $9.49 per share, with a total value of $75,920.00. Following the completion of the purchase, the chief executive officer directly owned 17,785 shares of the company’s stock, valued at approximately $168,779.65. The trade was a 81.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ImmuCell

An institutional investor recently raised its position in ImmuCell stock. Geode Capital Management LLC lifted its stake in shares of ImmuCell Corporation (NASDAQ:ICCC) by 4.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,852 shares of the biotechnology company’s stock after purchasing an additional 2,907 shares during the period. Geode Capital Management LLC owned 0.79% of ImmuCell worth $500,000 as of its most recent SEC filing. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ICCC has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmuCell in a research note on Thursday, July 2nd. Wall Street Zen raised ImmuCell to a “strong-buy” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

About ImmuCell

ImmuCell Corporation (NASDAQ: ICCC) is a biotechnology company that develops, manufactures, and markets immunological products and diagnostic assays designed to enhance animal health in dairy and beef cattle. Headquartered in Portland, Maine, the company focuses on supporting herd health management through its portfolio of passive immunology solutions and veterinary diagnostics.

The company’s flagship offering, CalfGuard natural colostrum supplement, is formulated to promote the passive transfer of antibodies in newborn calves and reduce the incidence of neonatal diseases.