Immunomedics (IMMU) Trading 6.1% Higher

Immunomedics, Inc. (NASDAQ:IMMU) traded up 6.1% during mid-day trading on Tuesday . The stock traded as high as $13.59 and last traded at $13.46. 3,840,826 shares changed hands during trading, an increase of 22% from the average session volume of 3,159,032 shares. The stock had previously closed at $12.69.

Several equities research analysts recently issued reports on the company. ValuEngine lowered Immunomedics from a “hold” rating to a “sell” rating in a research report on Monday, December 4th. Zacks Investment Research lowered Immunomedics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Jefferies Group upped their price target on Immunomedics from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, October 9th. Finally, BidaskClub raised Immunomedics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Immunomedics presently has a consensus 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 related news, insider Behzad Aghazadeh bought 1,325,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average cost of $10.47 per share, with a total value of $13,872,750.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian A. Markison sold 8,390 shares of the 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 completion of the sale, the director now directly owns 99,178 shares in the company, valued at $1,179,226.42. The disclosure for this sale can be found here. 6.60% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Geneva Advisors LLC grew its stake in shares of Immunomedics by 0.6% in the second quarter. Geneva Advisors LLC now owns 31,635 shares of the biopharmaceutical company’s stock worth $279,000 after purchasing an additional 200 shares in the last quarter. Amalgamated Bank boosted its stake in Immunomedics by 8.1% during the second quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 966 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Immunomedics by 11.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 1,473 shares in the last quarter. Legal & General Group Plc boosted its stake in Immunomedics by 7.4% during the second quarter. Legal & General Group Plc now owns 25,477 shares of the biopharmaceutical company’s stock valued at $222,000 after buying an additional 1,747 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Immunomedics by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 79,520 shares of the biopharmaceutical company’s stock valued at $702,000 after buying an additional 1,763 shares in the last quarter. 76.28% of the stock is owned by institutional investors.

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About Immunomedics

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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