Shares of Immunomedics, Inc. (NASDAQ:IMMU) gapped down prior to trading on Friday . The stock had previously closed at $12.14, but opened at $11.85. Immunomedics shares last traded at $11.29, with a volume of 5,415,383 shares trading hands.

Several analysts recently issued reports on IMMU shares. ValuEngine raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded shares of Immunomedics from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Jefferies Group LLC set a $9.00 price objective on shares of Immunomedics and gave the stock a “buy” rating in a report on Saturday, June 10th. Cowen and Company assumed coverage on shares of Immunomedics in a report on Friday, May 26th. They set an “outperform” rating on the stock. Finally, BidaskClub cut Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Immunomedics currently has an average rating of “Buy” and a consensus price target of $12.00.

The firm’s market capitalization is $1.26 billion. The company has a 50-day moving average of $9.93 and a 200 day moving average of $7.81.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings data 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 business had revenue of $0.64 million during the quarter, compared to analyst estimates of $0.75 million. During the same quarter last year, the firm posted ($0.17) earnings per share. Immunomedics’s revenue was down 31.2% on a year-over-year basis. On average, equities research analysts forecast that Immunomedics, Inc. will post ($0.55) EPS for the current fiscal year.

In other Immunomedics news, Director Cynthia L. Goldenberg sold 40,000 shares of Immunomedics stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $9.24, for a total transaction of $369,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David M. Goldenberg sold 20,000 shares of Immunomedics stock in a transaction on Friday, September 1st. The shares were 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 quarter, insiders sold 100,000 shares of company stock valued at $1,051,200. Company insiders own 6.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of IMMU. Teachers Advisors LLC raised its position in shares of Immunomedics by 8.9% in the 4th quarter. Teachers Advisors LLC now owns 185,661 shares of the biopharmaceutical company’s stock worth $681,000 after acquiring an additional 15,147 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Immunomedics during the 1st quarter valued at about $383,000. Bank of New York Mellon Corp increased its position in Immunomedics by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 464,215 shares of the biopharmaceutical company’s stock valued at $3,003,000 after buying an additional 23,518 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Immunomedics by 361.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 67,301 shares of the biopharmaceutical company’s stock valued at $435,000 after buying an additional 52,709 shares in the last quarter. Finally, TD Asset Management Inc. acquired a new position in Immunomedics during the 1st quarter valued at about $855,000. 77.99% of the stock is owned by institutional investors and hedge funds.

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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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