Immunomedics (NASDAQ:IMMU) Shares Down 5.2%

Immunomedics, Inc. (NASDAQ:IMMU) shares dropped 5.2% on Wednesday . The stock traded as low as $17.22 and last traded at $18.01, approximately 6,172,700 shares traded hands during mid-day trading. An increase of 138% from the average daily volume of 2,592,396 shares. The stock had previously closed at $19.00.

IMMU has been the subject of several recent analyst reports. Piper Jaffray Companies raised their target price on shares of Immunomedics from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald initiated coverage on shares of Immunomedics in a research note on Monday, August 19th. They issued an “overweight” rating and a $28.00 target price for the company. BidaskClub upgraded shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wells Fargo & Co raised their target price on shares of Immunomedics from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. Finally, Jefferies Financial Group set a $22.00 target price on shares of Immunomedics and gave the company a “buy” rating in a research note on Tuesday, September 10th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Immunomedics presently has a consensus rating of “Buy” and a consensus price target of $26.22.

The company has a debt-to-equity ratio of 0.30, a current ratio of 6.51 and a quick ratio of 6.51. The stock’s fifty day simple moving average is $17.30 and its 200-day simple moving average is $15.02. The firm has a market cap of $3.63 billion, a PE ratio of -17.49 and a beta of 2.16.

Immunomedics (NASDAQ:IMMU) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.09). During the same period in the previous year, the firm earned ($0.34) EPS. Analysts expect that Immunomedics, Inc. will post -1.78 earnings per share for the current year.

In other Immunomedics news, Director Avoro Capital Advisors Llc bought 1,000,000 shares of Immunomedics stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average price of $13.23 per share, with a total value of $13,230,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bryan Ball bought 5,000 shares of Immunomedics stock in a transaction that occurred on Thursday, October 3rd. The shares were acquired at an average cost of $14.18 per share, with a total value of $70,900.00. Following the acquisition, the insider now owns 10,000 shares of the company’s stock, valued at $141,800. The disclosure for this purchase can be found here. Company insiders own 9.40% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in shares of Immunomedics during the second quarter worth $49,000. Coastal Investment Advisors Inc. increased its holdings in Immunomedics by 23.5% in the second quarter. Coastal Investment Advisors Inc. now owns 4,200 shares of the biopharmaceutical company’s stock valued at $59,000 after buying an additional 800 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Immunomedics by 3,350.0% in the third quarter. Tower Research Capital LLC TRC now owns 4,968 shares of the biopharmaceutical company’s stock valued at $66,000 after buying an additional 4,824 shares in the last quarter. North Star Investment Management Corp. purchased a new position in Immunomedics in the third quarter valued at $66,000. Finally, US Bancorp DE increased its holdings in Immunomedics by 56.0% in the second quarter. US Bancorp DE now owns 6,749 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 2,423 shares in the last quarter. 83.57% of the stock is owned by hedge funds and other institutional investors.

Immunomedics Company Profile (NASDAQ:IMMU)

Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. Its advanced antibody-drug conjugates are sacituzumab govitecan and labetuzumab govitecan, which are in advanced trials for various solid tumors and metastatic colorectal cancer, respectively.

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