Cannell Peter B & Co. Inc. decreased its position in OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) by 25.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,971 shares of the biopharmaceutical company’s stock after selling 103,770 shares during the period. Cannell Peter B & Co. Inc. owned approximately 0.80% of OncoMed Pharmaceuticals worth $1,374,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. American International Group Inc. boosted its stake in OncoMed Pharmaceuticals by 9.0% in the 1st 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 in the last quarter. KCG Holdings Inc. bought a new position in OncoMed Pharmaceuticals in the 1st quarter worth about $103,000. Metropolitan Life Insurance Co. NY bought a new position in OncoMed Pharmaceuticals in the 1st quarter worth about $160,000. Hodges Capital Management Inc. boosted its stake in OncoMed Pharmaceuticals by 155.9% in the 3rd quarter. Hodges Capital Management Inc. now owns 25,592 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 15,592 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in OncoMed Pharmaceuticals by 289.8% in the 2nd quarter. Citadel Advisors LLC now owns 45,997 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 34,197 shares in the last quarter. Institutional investors own 50.40% of the company’s stock.
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) traded down $0.24 on Wednesday, reaching $4.57. 86,800 shares of the company’s stock traded hands, compared to its average volume of 284,077. OncoMed Pharmaceuticals, Inc. has a 1-year low of $2.91 and a 1-year high of $10.89.
OncoMed Pharmaceuticals (NASDAQ:OMED) last posted its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.13. The company had revenue of $5.11 million for the quarter, compared to the consensus estimate of $6.25 million. OncoMed Pharmaceuticals’s revenue was down 13.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.77) EPS. equities research analysts forecast that OncoMed Pharmaceuticals, Inc. will post -1.62 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on OMED shares. Zacks Investment Research upgraded shares of OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research note on Wednesday, October 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $5.00 price target on shares of OncoMed Pharmaceuticals in a research note on Thursday, September 28th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $4.00 price target on shares of OncoMed Pharmaceuticals in a research note on Friday, October 6th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $6.00 target price on shares of OncoMed Pharmaceuticals in a research note on Tuesday, September 19th. One equities 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 stock. OncoMed Pharmaceuticals presently has an average rating of “Hold” and an average price target of $5.94.
ILLEGAL ACTIVITY NOTICE: “Cannell Peter B & Co. Inc. Has $1.37 Million Position in OncoMed Pharmaceuticals, Inc. (OMED)” was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://sportsperspectives.com/2017/11/22/cannell-peter-b-co-inc-has-1-37-million-position-in-oncomed-pharmaceuticals-inc-omed.html.
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).
Want to see what other hedge funds are holding OMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED).
Receive News & Ratings for OncoMed Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OncoMed Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.