Immunomedics, Inc. (IMMU) Sees Significant Drop in Short Interest

Immunomedics, Inc. (NASDAQ:IMMU) was the target of a large decrease in short interest in September. As of September 29th, there was short interest totalling 29,775,931 shares, a decrease of 14.0% from the September 15th total of 34,616,695 shares. Currently, 21.3% of the shares of the company are sold short. Based on an average daily volume of 2,956,373 shares, the short-interest ratio is presently 10.1 days.

IMMU has been the topic of several recent research reports. Zacks Investment Research upgraded Immunomedics from a “sell” rating to a “buy” rating and set a $9.50 price objective on the stock in a research report on Tuesday, July 11th. BidaskClub lowered Immunomedics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $11.00 target price on shares of Immunomedics in a research report on Friday, July 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.33.

In other Immunomedics news, Director Cynthia L. Goldenberg sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $10.72, for a total value of $428,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David M. Goldenberg sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $12.64, for a total value of $252,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,000 shares of company stock worth $1,051,200. Insiders own 6.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in IMMU. Russell Investments Group Ltd. acquired a new position in Immunomedics during the first quarter worth $383,000. Bank of New York Mellon Corp grew its holdings in Immunomedics by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 464,215 shares of the biopharmaceutical company’s stock worth $3,003,000 after acquiring an additional 23,518 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Immunomedics by 361.2% during the first quarter. UBS Asset Management Americas Inc. now owns 67,301 shares of the biopharmaceutical company’s stock worth $435,000 after acquiring an additional 52,709 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Immunomedics by 49.6% during the first quarter. Parametric Portfolio Associates LLC now owns 167,077 shares of the biopharmaceutical company’s stock worth $1,081,000 after acquiring an additional 55,392 shares during the period. Finally, American International Group Inc. grew its holdings in Immunomedics by 17.8% during the first quarter. American International Group Inc. now owns 59,094 shares of the biopharmaceutical company’s stock worth $382,000 after acquiring an additional 8,910 shares during the period. 57.36% of the stock is currently owned by hedge funds and other institutional investors.

Immunomedics (IMMU) opened at 11.17 on Wednesday. The stock’s 50 day moving average price is $12.18 and its 200-day moving average price is $8.75. Immunomedics has a 12 month low of $2.02 and a 12 month high of $14.48. The stock’s market cap is $1.24 billion.

Immunomedics (NASDAQ:IMMU) last released its earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.13). The firm had revenue of $0.64 million during the quarter, compared to analyst estimates of $0.75 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The company’s revenue for the quarter was down 31.2% on a year-over-year basis. Equities research analysts predict that Immunomedics will post ($0.53) EPS for the current year.

WARNING: “Immunomedics, Inc. (IMMU) Sees Significant Drop in Short Interest” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The origina

IMMU has been the topic of several recent research reports. Zacks Investment Research upgraded Immunomedics from a “sell” rating to a “buy” rating and set a $9.50 price objective on the stock in a research report on Tuesday, July 11th. BidaskClub lowered Immunomedics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $11.00 target price on shares of Immunomedics in a research report on Friday, July 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.33.

In other Immunomedics news, Director Cynthia L. Goldenberg sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $10.72, for a total value of $428,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David M. Goldenberg sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $12.64, for a total value of $252,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,000 shares of company stock worth $1,051,200. Insiders own 6.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in IMMU. Russell Investments Group Ltd. acquired a new position in Immunomedics during the first quarter worth $383,000. Bank of New York Mellon Corp grew its holdings in Immunomedics by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 464,215 shares of the biopharmaceutical company’s stock worth $3,003,000 after acquiring an additional 23,518 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Immunomedics by 361.2% during the first quarter. UBS Asset Management Americas Inc. now owns 67,301 shares of the biopharmaceutical company’s stock worth $435,000 after acquiring an additional 52,709 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Immunomedics by 49.6% during the first quarter. Parametric Portfolio Associates LLC now owns 167,077 shares of the biopharmaceutical company’s stock worth $1,081,000 after acquiring an additional 55,392 shares during the period. Finally, American International Group Inc. grew its holdings in Immunomedics by 17.8% during the first quarter. American International Group Inc. now owns 59,094 shares of the biopharmaceutical company’s stock worth $382,000 after acquiring an additional 8,910 shares during the period. 57.36% of the stock is currently owned by hedge funds and other institutional investors.

Immunomedics (IMMU) opened at 11.17 on Wednesday. The stock’s 50 day moving average price is $12.18 and its 200-day moving average price is $8.75. Immunomedics has a 12 month low of $2.02 and a 12 month high of $14.48. The stock’s market cap is $1.24 billion.

Immunomedics (NASDAQ:IMMU) last released its earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.13). The firm had revenue of $0.64 million during the quarter, compared to analyst estimates of $0.75 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The company’s revenue for the quarter was down 31.2% on a year-over-year basis. Equities research analysts predict that Immunomedics will post ($0.53) EPS for the current year.

WARNING: “Immunomedics, Inc. (IMMU) Sees Significant Drop in Short Interest” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://ledgergazette.com/2017/10/18/immunomedics-inc-immu-sees-significant-drop-in-short-interest.html.

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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