ImmuCell (NASDAQ:ICCC) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of ImmuCell Corporation (NASDAQ:ICCC) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.11 and traded as high as $6.45. ImmuCell shares last traded at $6.44, with a volume of 2,936 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of ImmuCell from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

ImmuCell Price Performance

The company has a market cap of $58.28 million, a P/E ratio of -58.54 and a beta of 0.27. The firm’s 50-day moving average is $6.40 and its two-hundred day moving average is $6.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.21 and a quick ratio of 1.76.

Institutional Trading of ImmuCell

Several hedge funds have recently made changes to their positions in ICCC. Steadtrust LLC purchased a new stake in shares of ImmuCell during the 3rd quarter valued at about $198,000. Mesirow Financial Investment Management Inc. grew its position in ImmuCell by 199.6% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 36,481 shares of the biotechnology company’s stock worth $224,000 after acquiring an additional 24,303 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in ImmuCell by 4.2% during the second quarter. Geode Capital Management LLC now owns 71,852 shares of the biotechnology company’s stock worth $500,000 after acquiring an additional 2,907 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

About ImmuCell

ImmuCell Corporation (NASDAQ: ICCC) is a biotechnology company that develops, manufactures, and markets immunological products and diagnostic assays designed to enhance animal health in dairy and beef cattle. Headquartered in Portland, Maine, the company focuses on supporting herd health management through its portfolio of passive immunology solutions and veterinary diagnostics.

The company’s flagship offering, CalfGuard natural colostrum supplement, is formulated to promote the passive transfer of antibodies in newborn calves and reduce the incidence of neonatal diseases.