Immunomedics, Inc. (NASDAQ:IMMU)’s share price was up 7.3% during mid-day trading on Monday . The stock traded as high as $17.18 and last traded at $17.15. Approximately 2,941,066 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 2,770,379 shares. The stock had previously closed at $15.99.
Several equities analysts have recently issued reports on IMMU shares. BidaskClub upgraded Immunomedics from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research lowered Immunomedics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. ValuEngine lowered Immunomedics from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Finally, Jefferies Group lifted their price target on Immunomedics from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, October 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $15.33.
The company has a debt-to-equity ratio of -0.29, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $2,610.00, a price-to-earnings ratio of -7.66 and a beta of 1.48.
In related news, Director Brian A. Markison sold 8,390 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $11.89, for a total transaction of $99,757.10. Following the sale, the director now owns 99,178 shares of the company’s stock, valued at approximately $1,179,226.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Behzad Aghazadeh acquired 1,325,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average cost of $10.47 per share, for a total transaction of $13,872,750.00. The disclosure for this purchase can be found here. Company insiders own 6.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its holdings in shares of Immunomedics by 8.1% during the 2nd quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 966 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in 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 buying an additional 1,473 shares during the period. Legal & General Group Plc lifted its holdings in Immunomedics by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 25,477 shares of the biopharmaceutical company’s stock worth $222,000 after buying an additional 1,747 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Immunomedics by 2.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 79,520 shares of the biopharmaceutical company’s stock worth $702,000 after buying an additional 1,763 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in Immunomedics by 5.9% during the 2nd quarter. Voya Investment Management LLC now owns 50,433 shares of the biopharmaceutical company’s stock worth $445,000 after buying an additional 2,808 shares during the period. 76.28% of the stock is currently owned by institutional investors.
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Immunomedics Company Profile
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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