ImmuCell (NASDAQ:ICCC) Stock Price Passes Above 50-Day Moving Average – Here’s Why

ImmuCell Corporation (NASDAQ:ICCC) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $9.55 and traded as high as $10.60. ImmuCell shares last traded at $10.34, with a volume of 37,793 shares traded.

Analyst Upgrades and Downgrades

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

ImmuCell Stock Up 2.8%

The business’s fifty day simple moving average is $9.55 and its 200 day simple moving average is $7.59. The stock has a market cap of $93.55 million, a price-to-earnings ratio of -172.30 and a beta of 0.56. The company has a current ratio of 4.82, a quick ratio of 2.60 and a debt-to-equity ratio of 0.24.

ImmuCell (NASDAQ:ICCC) last posted its quarterly earnings results on Thursday, May 14th. The biotechnology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. ImmuCell had a negative return on equity of 1.88% and a negative net margin of 1.82%.The company had revenue of $10.36 million for the quarter, compared to the consensus estimate of $5.40 million.

Insider Activity at ImmuCell

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in ImmuCell by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 56,030 shares of the biotechnology company’s stock valued at $355,000 after purchasing an additional 1,749 shares in the last quarter. Geode Capital Management LLC increased its position in shares of ImmuCell by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 71,852 shares of the biotechnology company’s stock valued at $500,000 after buying an additional 2,907 shares in the last quarter. Militia Capital Management LLC acquired a new stake in ImmuCell during the 1st quarter worth $114,000. Mesirow Financial Investment Management Inc. raised its stake in ImmuCell by 199.6% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 36,481 shares of the biotechnology company’s stock worth $224,000 after buying an additional 24,303 shares during the period. Finally, Steadtrust LLC lifted its holdings in ImmuCell by 79.1% during the fourth quarter. Steadtrust LLC now owns 56,770 shares of the biotechnology company’s stock worth $349,000 after acquiring an additional 25,070 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

ImmuCell Company Profile

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.