Immunomedics Inc. (NASDAQ:IMMU) shares traded down 1.5% during mid-day trading on Tuesday . The company traded as low as $3.15 and last traded at $3.21, with a volume of 659,770 shares changing hands. The stock had previously closed at $3.26.

A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Immunomedics from a “hold” rating to a “strong sell” rating in a report on Monday, August 22nd. Wells Fargo & Co. cut shares of Immunomedics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 21st. Finally, Jefferies Group restated a “buy” rating and set a $5.00 price objective on shares of Immunomedics in a report on Monday, June 6th.

The stock’s 50-day moving average price is $2.89 and its 200 day moving average price is $2.99. The stock’s market capitalization is $309.65 million.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/immunomedics-inc-immu-stock-price-down-1-5.html

Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings results on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.06. On average, equities analysts forecast that Immunomedics Inc. will post ($0.47) EPS for the current year.

In other news, Director Mary E. Paetzold sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $2.98, for a total value of $44,700.00. Following the sale, the director now directly owns 82,474 shares in the company, valued at approximately $245,772.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Don C. Stark sold 9,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $2.97, for a total transaction of $29,403.00. Following the completion of the sale, the director now owns 55,848 shares in the company, valued at $165,868.56. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of IMMU. Sabby Management LLC bought a new stake in Immunomedics during the first quarter worth $182,240,000. venBio Select Advisor LLC bought a new stake in Immunomedics during the first quarter worth $2,626,000. Opaleye Management Inc. increased its stake in Immunomedics by 356.9% in the first quarter. Opaleye Management Inc. now owns 1,325,000 shares of the biopharmaceutical company’s stock worth $3,313,000 after buying an additional 1,035,000 shares during the last quarter. State Street Corp increased its stake in Immunomedics by 63.3% in the second quarter. State Street Corp now owns 2,354,732 shares of the biopharmaceutical company’s stock worth $5,463,000 after buying an additional 912,372 shares during the last quarter. Finally, Iguana Healthcare Management LLC bought a new stake in Immunomedics during the second quarter worth $522,000. Institutional investors own 53.79% of the company’s stock.

About Immunomedics

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.

5 Day Chart for NASDAQ:IMMU

Receive News & Ratings for Immunomedics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immunomedics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.