Immunomedics, Inc. (NASDAQ:IMMU) was up 9.9% during trading on Monday . The stock traded as high as $12.85 and last traded at $12.61. Approximately 3,421,516 shares changed hands during trading, an increase of 33% from the average daily volume of 2,565,390 shares. The stock had previously closed at $11.47.
Several equities research analysts have recently commented on IMMU shares. ValuEngine upgraded Immunomedics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut Immunomedics from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Jefferies Group LLC set a $9.00 price target on Immunomedics and gave the stock a “buy” rating in a research note on Saturday, June 10th. BidaskClub cut Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Cowen and Company restated an “outperform” rating and set a $15.00 price target on shares of Immunomedics in a research note on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $13.00.
Immunomedics (NASDAQ:IMMU) last announced its earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 quarterly revenue was down 31.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) earnings per share.
In other Immunomedics news, Director Cynthia L. Goldenberg sold 40,000 shares of Immunomedics stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $9.24, for a total transaction of $369,600.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David M. Goldenberg sold 20,000 shares of Immunomedics stock in a transaction on Friday, September 1st. The shares were 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 have sold a total of 100,000 shares of company stock worth $1,051,200 in the last ninety days. 6.60% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank raised its stake in shares of Immunomedics by 8.1% in the 2nd quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 966 shares in the last quarter. Stephens Inc. AR bought a new stake in shares of Immunomedics in the 2nd quarter worth $115,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Immunomedics by 11.4% in 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 in the last quarter. SG Americas Securities LLC raised its stake in shares of Immunomedics by 99.3% in the 2nd quarter. SG Americas Securities LLC now owns 20,719 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 10,323 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Immunomedics by 7.4% in 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 in the last quarter. 64.53% of the stock is currently owned by institutional investors.
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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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