Immunomedics, Inc. (NASDAQ:IMMU) Sees Large Growth in Short Interest

Immunomedics, Inc. (NASDAQ:IMMU) saw a large increase in short interest during the month of December. As of December 29th, there was short interest totalling 26,149,728 shares, an increase of 6.3% from the December 15th total of 24,593,550 shares. Based on an average daily trading volume, of 3,240,203 shares, the short-interest ratio is currently 8.1 days. Currently, 19.0% of the company’s stock are short sold.

In other news, Director Brian A. Markison sold 8,390 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $11.89, for a total transaction of $99,757.10. Following the completion of the transaction, the director now directly owns 99,178 shares in the company, valued at approximately $1,179,226.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Behzad Aghazadeh bought 1,325,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average price of $10.47 per share, with a total value of $13,872,750.00. The disclosure for this purchase can be found here. Corporate insiders own 6.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. bought a new position in Immunomedics in the 4th quarter valued at about $17,941,000. Hussman Strategic Advisors Inc. bought a new position in Immunomedics in the 4th quarter valued at about $808,000. Jennison Associates LLC raised its holdings in Immunomedics by 1.1% in the 4th quarter. Jennison Associates LLC now owns 1,830,914 shares of the biopharmaceutical company’s stock valued at $29,588,000 after acquiring an additional 19,195 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Immunomedics by 10.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 517,259 shares of the biopharmaceutical company’s stock valued at $8,359,000 after acquiring an additional 48,879 shares during the period. Finally, NEXT Financial Group Inc raised its holdings in Immunomedics by 9.6% in the 4th quarter. NEXT Financial Group Inc now owns 121,350 shares of the biopharmaceutical company’s stock valued at $1,961,000 after acquiring an additional 10,600 shares during the period. 75.21% of the stock is currently owned by hedge funds and other institutional investors.

Immunomedics (NASDAQ IMMU) traded down $0.41 during trading on Friday, reaching $16.25. 2,012,929 shares of the company’s stock traded hands, compared to its average volume of 2,810,000. The company has a market cap of $2,410.00, a PE ratio of -7.25 and a beta of 1.50. The company has a debt-to-equity ratio of -0.29, a quick ratio of 0.74 and a current ratio of 0.74. Immunomedics has a 52-week low of $4.08 and a 52-week high of $18.93.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.06). The business had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $0.90 million. equities analysts forecast that Immunomedics will post -1.16 EPS for the current year.

Several brokerages recently issued reports on IMMU. ValuEngine upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Friday. BidaskClub downgraded shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Immunomedics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Jefferies Group raised their target price on shares of Immunomedics from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $19.00.

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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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