Short Interest in Immunomedics, Inc. (IMMU) Increases By 6.3%
Immunomedics, Inc. (NASDAQ:IMMU) saw a large growth in short interest in December. As of December 29th, there was short interest totalling 26,149,728 shares, a growth of 6.3% from the December 15th total of 24,593,550 shares. Currently, 19.0% of the shares of the stock are short sold. Based on an average daily volume of 3,240,203 shares, the short-interest ratio is currently 8.1 days.
In other Immunomedics news, Director Venbio Select Advisor Llc acquired 1,150,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average cost of $10.39 per share, with a total value of $11,948,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Behzad Aghazadeh acquired 1,325,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average cost of $10.47 per share, with a total value of $13,872,750.00. The disclosure for this purchase can be found here. Company insiders own 6.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMMU. FMR LLC raised its holdings in shares of Immunomedics by 260.6% in the 2nd quarter. FMR LLC now owns 5,496,851 shares of the biopharmaceutical company’s stock worth $48,537,000 after purchasing an additional 3,972,388 shares during the period. State Street Corp grew its stake in Immunomedics by 37.2% during the 2nd quarter. State Street Corp now owns 4,818,847 shares of the biopharmaceutical company’s stock valued at $42,549,000 after purchasing an additional 1,305,298 shares in the last quarter. Vanguard Group Inc. grew its stake in Immunomedics by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,522,091 shares of the biopharmaceutical company’s stock valued at $39,930,000 after purchasing an additional 105,558 shares in the last quarter. Farallon Capital Management LLC grew its stake in Immunomedics by 1.7% during the 2nd quarter. Farallon Capital Management LLC now owns 4,227,500 shares of the biopharmaceutical company’s stock valued at $37,329,000 after purchasing an additional 72,500 shares in the last quarter. Finally, Palo Alto Investors LLC acquired a new position in shares of Immunomedics in the 2nd quarter worth approximately $26,582,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.
A number of brokerages have recently commented on IMMU. ValuEngine downgraded Immunomedics from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. BidaskClub upgraded Immunomedics from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research upgraded Immunomedics from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, October 4th. Finally, Jefferies Group boosted their target price on Immunomedics from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $15.33.
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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