Immunomedics, Inc. (IMMU) Short Interest Update
Immunomedics, Inc. (NASDAQ:IMMU) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 33,152,898 shares, an increase of 7.5% from the May 31st total of 30,848,339 shares. Based on an average trading volume of 2,101,258 shares, the short-interest ratio is presently 15.8 days. Approximately 32.1% of the company’s shares are sold short.
A number of brokerages have weighed in on IMMU. Jefferies Group LLC set a $9.00 price target on Immunomedics and gave the stock a “buy” rating in a report on Saturday, May 6th. ValuEngine upgraded Immunomedics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Cowen and Company began coverage on Immunomedics in a report on Friday, May 26th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company upgraded Immunomedics from a “market perform” rating to an “outperform” rating in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.88.
Shares of Immunomedics (IMMU) opened at 8.56 on Wednesday. Immunomedics has a 52 week low of $1.95 and a 52 week high of $8.80. The firm’s market capitalization is $938.21 million. The stock has a 50 day moving average price of $7.34 and a 200 day moving average price of $5.57.
Several institutional investors have recently modified their holdings of IMMU. Parametric Portfolio Associates LLC increased its position in shares of Immunomedics by 49.6% in the first quarter. Parametric Portfolio Associates LLC now owns 167,077 shares of the biopharmaceutical company’s stock valued at $1,081,000 after buying an additional 55,392 shares during the period. TD Asset Management Inc. bought a new position in shares of Immunomedics during the first quarter valued at about $855,000. UBS Asset Management Americas Inc. boosted its position in shares of Immunomedics by 361.2% in the first 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. Bank of New York Mellon Corp boosted its position in shares of Immunomedics by 5.3% in the first 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. Finally, Chicago Equity Partners LLC boosted its position in shares of Immunomedics by 54.1% in the first quarter. Chicago Equity Partners LLC now owns 363,755 shares of the biopharmaceutical company’s stock valued at $2,353,000 after buying an additional 127,700 shares in the last quarter. 62.04% of the stock is owned by hedge funds and other institutional investors.
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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