Published On: Sat, Sep 10th, 2016

Immunomedics Inc. (IMMU) Trading Down 4.7%

Immunomedics Inc. (NASDAQ:IMMU)’s share price fell 4.7% during mid-day trading on Friday . The stock traded as low as $2.81 and last traded at $2.85, with a volume of 340,220 shares changing hands. The stock had previously closed at $2.99.
Several brokerages have issued reports on IMMU. Wells Fargo & Co. reissued a “buy” rating on shares of Immunomedics in a research note on Tuesday, May 24th. Jefferies Group reissued a “buy” rating and issued a $5.00 price target on shares of Immunomedics in a research note on Monday, June 6th. Finally, Zacks Investment Research raised Immunomedics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th.
The firm has a 50-day moving average price of $2.80 and a 200 day moving average price of $2.94. The stock’s market cap is $262.67 million.

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Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings data on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.11) by $0.06. On average, equities research analysts predict that Immunomedics Inc. will post ($0.47) EPS for the current fiscal year.
In other news, Director Don C. Stark sold 9,900 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $2.97, for a total transaction of $29,403.00. Following the transaction, the director now directly owns 55,848 shares in the company, valued at approximately $165,868.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cynthia L. Goldenberg sold 371,990 shares of the stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $3.03, for a total value of $1,127,129.70. Following the transaction, the chief executive officer now owns 650,396 shares in the company, valued at $1,970,699.88. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
Immunomedics Company Profile
Immunomedics, Inc is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. The Company’s technologies allow it to create humanized antibodies in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.

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