Immunomedics, Inc. (NASDAQ:IMMU)’s share price shot up 4.3% during mid-day trading on Wednesday . The stock traded as high as $15.64 and last traded at $16.26, 220,899 shares changed hands during trading. A decline of 87% from the average session volume of 1,674,608 shares. The stock had previously closed at $15.59.

IMMU has been the topic of a number of research analyst reports. Cowen set a $30.00 price target on shares of Immunomedics and gave the stock a “buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald started coverage on shares of Immunomedics in a research report on Monday, August 19th. They set an “overweight” rating and a $28.00 price target for the company. ValuEngine upgraded shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. Finally, BidaskClub cut shares of Immunomedics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Immunomedics presently has an average rating of “Buy” and a consensus price target of $28.25.

The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 0.06. The company has a market cap of $2.55 billion, a PE ratio of -16.19 and a beta of 2.06. The firm has a 50 day moving average of $14.17 and a two-hundred day moving average of $15.21.

Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.09). During the same quarter last year, the firm posted ($0.68) earnings per share. On average, research analysts forecast that Immunomedics, Inc. will post -1.61 EPS for the current year.

In other news, insider Bryan Ball acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost of $13.35 per share, with a total value of $66,750.00. Following the transaction, the insider now owns 5,000 shares of the company’s stock, valued at approximately $66,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Avoro Capital Advisors Llc acquired 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were purchased at an average cost of $13.25 per share, for a total transaction of $5,300,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,405,000 shares of company stock worth $18,916,750. Insiders own 9.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in IMMU. Global Retirement Partners LLC increased its position in shares of Immunomedics by 215.7% during the first quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,305 shares in the last quarter. Cornerstone Advisors Inc. bought a new position in Immunomedics in the 1st quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC purchased a new stake in Immunomedics during the 2nd quarter valued at $49,000. Coastal Investment Advisors Inc. boosted its stake in Immunomedics by 23.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 4,200 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 800 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Immunomedics by 56.0% in the 2nd quarter. US Bancorp DE now owns 6,749 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 2,423 shares in the last quarter. Institutional investors and hedge funds own 88.59% of the company’s stock.

About Immunomedics (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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