Immunomedics (IMMU) Shares Up 13.1%

Immunomedics, Inc. (NASDAQ:IMMU) shot up 13.1% during mid-day trading on Thursday . The company traded as high as $11.85 and last traded at $10.21. 13,739,000 shares traded hands during trading, an increase of 340% from the average session volume of 3,120,234 shares. The stock had previously closed at $9.03.

A number of brokerages recently issued reports on IMMU. Jefferies Group set a $11.00 price target on Immunomedics and gave the stock a “buy” rating in a research report on Thursday, August 17th. ValuEngine downgraded Immunomedics from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research downgraded Immunomedics from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, BidaskClub raised Immunomedics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Immunomedics has an average rating of “Buy” and an average target price of $15.33.

The company has a debt-to-equity ratio of -0.29, a quick ratio of 0.74 and a current ratio of 0.74.

In other Immunomedics news, Director Brian A. Markison sold 8,390 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $11.89, for a total value of $99,757.10. Following the sale, the director now owns 99,178 shares of the company’s stock, valued at approximately $1,179,226.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Behzad Aghazadeh bought 1,325,000 shares of Immunomedics stock in a transaction on Wednesday, November 15th. The stock was acquired at an average cost of $10.47 per share, for a total transaction of $13,872,750.00. The disclosure for this purchase can be found here. Corporate insiders own 6.60% of the company’s stock.

Several hedge funds have recently modified their holdings of IMMU. Amalgamated Bank boosted its holdings in shares of Immunomedics by 8.1% in the 2nd quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 966 shares in the last quarter. Stephens Inc. AR acquired a new stake in shares of Immunomedics in the 2nd quarter valued at $115,000. Raymond James Financial Services Advisors Inc. boosted its holdings 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 valued at $127,000 after purchasing an additional 1,473 shares in the last quarter. SG Americas Securities LLC boosted its holdings 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 valued at $183,000 after purchasing an additional 10,323 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Immunomedics by 38.8% in the 1st quarter. Bank of America Corp DE now owns 33,707 shares of the biopharmaceutical company’s stock valued at $218,000 after purchasing an additional 9,426 shares in the last quarter. 76.32% of the stock is currently owned by hedge funds and other institutional investors.

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Immunomedics Company Profile

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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