Immunomedics, Inc. (NASDAQ:IMMU) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 26,254,027 shares, a decline of 7.5% from the February 15th total of 28,394,408 shares. Approximately 29.8% of the company’s stock are sold short. Based on an average daily volume of 1,664,285 shares, the short-interest ratio is currently 15.8 days.
IMMU has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Immunomedics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. ValuEngine cut shares of Immunomedics from a “hold” rating to a “sell” rating in a research report on Monday, December 4th. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Jefferies Group lifted their price objective on shares of Immunomedics from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, TheStreet raised shares of Immunomedics from a “d” rating to a “c-” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $19.00.
Shares of Immunomedics (NASDAQ:IMMU) opened at $16.94 on Wednesday. Immunomedics has a one year low of $5.00 and a one year high of $18.93. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $2,580.00, a price-to-earnings ratio of -9.11 and a beta of 1.48.
In other news, Director David M. Goldenberg sold 40,000 shares of Immunomedics stock in a transaction on Monday, March 5th. The shares were sold at an average price of $17.24, for a total transaction of $689,600.00. Following the completion of the sale, the director now directly owns 1,774,285 shares of the company’s stock, valued at approximately $30,588,673.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David M. Goldenberg sold 20,000 shares of Immunomedics stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $17.50, for a total transaction of $350,000.00. Following the sale, the director now directly owns 1,774,285 shares of the company’s stock, valued at $31,049,987.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,729 shares of company stock valued at $1,342,589. Corporate insiders own 14.80% of the company’s stock.
A number of large investors have recently made changes to their positions in IMMU. Palo Alto Investors LLC raised its stake in Immunomedics by 58.6% during the 4th quarter. Palo Alto Investors LLC now owns 4,774,261 shares of the biopharmaceutical company’s stock worth $77,152,000 after acquiring an additional 1,763,795 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its stake in Immunomedics by 48.5% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 5,225,124 shares of the biopharmaceutical company’s stock worth $84,438,000 after acquiring an additional 1,705,624 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Immunomedics during the 4th quarter worth $17,941,000. Franklin Resources Inc. acquired a new stake in Immunomedics during the 4th quarter worth $12,537,000. Finally, BlackRock Inc. raised its stake in Immunomedics by 8.8% during the 4th quarter. BlackRock Inc. now owns 9,064,259 shares of the biopharmaceutical company’s stock worth $146,478,000 after acquiring an additional 736,608 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.
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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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