Goldman Sachs Group Inc. increased its stake in shares of OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) by 143.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,439 shares of the biopharmaceutical company’s stock after purchasing an additional 100,309 shares during the quarter. Goldman Sachs Group Inc. owned 0.45% of OncoMed Pharmaceuticals worth $568,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of OMED. Russell Investments Group Ltd. acquired a new stake in shares of OncoMed Pharmaceuticals during the first quarter worth $141,000. Bank of New York Mellon Corp lifted its holdings in shares of OncoMed Pharmaceuticals by 5.1% during the first quarter. Bank of New York Mellon Corp now owns 109,273 shares of the biopharmaceutical company’s stock worth $1,007,000 after purchasing an additional 5,305 shares during the period. Swiss National Bank lifted its holdings in shares of OncoMed Pharmaceuticals by 22.1% during the first quarter. Swiss National Bank now owns 33,200 shares of the biopharmaceutical company’s stock worth $306,000 after purchasing an additional 6,000 shares during the period. American International Group Inc. lifted its holdings in shares of OncoMed Pharmaceuticals by 9.0% during the first quarter. American International Group Inc. now owns 10,977 shares of the biopharmaceutical company’s stock worth $101,000 after purchasing an additional 905 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of OncoMed Pharmaceuticals by 5.1% during the first quarter. Vanguard Group Inc. now owns 945,485 shares of the biopharmaceutical company’s stock worth $8,708,000 after purchasing an additional 45,494 shares during the period. 51.67% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on OMED. Zacks Investment Research downgraded OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Group LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of OncoMed Pharmaceuticals in a report on Thursday, September 28th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $6.00 price target on shares of OncoMed Pharmaceuticals in a report on Tuesday, September 19th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $4.00 price target on shares of OncoMed Pharmaceuticals in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.94.
Shares of OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) opened at $4.87 on Friday. OncoMed Pharmaceuticals, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $10.89.
OncoMed Pharmaceuticals (NASDAQ:OMED) last released its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.13. The business had revenue of $5.11 million during the quarter, compared to analyst estimates of $6.25 million. During the same period last year, the business posted ($0.77) EPS. OncoMed Pharmaceuticals’s revenue was down 13.7% compared to the same quarter last year. research analysts forecast that OncoMed Pharmaceuticals, Inc. will post -1.64 EPS for the current fiscal year.
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About OncoMed Pharmaceuticals
OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical-stage biopharmaceutical company. The Company focuses on discovering and developing therapeutics that address the fundamental biology driving cancer’s growth, resistance, recurrence and metastasis. The Company’s therapeutic candidates and preclinical programs include Demcizumab (Anti-DLL4, OMP-21M18), Tarextumab (Anti-Notch2/3, OMP-59R5), Vantictumab (anti-Fzd7, OMP-18R5), Ipafricept (Fzd8-Fc, OMP-54F28), Brontictuzumab (Anti-Notch1, OMP-52M51), Navicixizumab (Anti-DLL4/VEGF Bispecific, OMP-305B83), Anti-RSPO3 (OMP-131R10), Anti-TIGIT (OMP-313M32) and GITRL-Fc trimer (OMP-336B11).
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