Oncomed Pharmaceuticals Sees Large Volume Increase on Insider Buying Activity (OMED)
Shares of Oncomed Pharmaceuticals (NASDAQ:OMED) saw unusually-strong trading volume on Friday following insider buying activity, Analyst RN reports. Approximately 302,065 shares traded hands during trading, an increase of 55% from the previous session’s volume of 194,742 shares.The stock last traded at $19.86 and had previously closed at $19.01.
Specifically, Director Deepika Pakianathan purchased 80,203 shares of the stock in a transaction dated Thursday, August 21st. The stock was purchased at an average price of $18.98 per share, for a total transaction of $1,522,252.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on OMED. Analysts at Zacks downgraded shares of Oncomed Pharmaceuticals from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 12th. They now have a $15.00 price target on the stock. Analysts at Mizuho reiterated a “buy” rating on shares of Oncomed Pharmaceuticals in a research note on Friday, June 13th.
The stock’s 50-day moving average is $20.89 and its 200-day moving average is $26.36. The company’s market cap is $593.7 million.
Oncomed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.53) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.50. The company had revenue of $6.00 million for the quarter, compared to the consensus estimate of $21.28 million. Analysts expect that Oncomed Pharmaceuticals will post $-1.35 EPS for the current fiscal year.
OncoMed Pharmaceuticals, Inc (NASDAQ:OMED) is a clinical development-stage biopharmaceutical company.
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