Immunomedics, Inc. (NASDAQ:IMMU) Short Interest Down 5.5% in November

Posted by James Conley on Dec 2nd, 2019

Immunomedics, Inc. (NASDAQ:IMMU) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 29,940,000 shares, a decrease of 5.5% from the October 31st total of 31,680,000 shares. Based on an average daily trading volume, of 2,220,000 shares, the days-to-cover ratio is presently 13.5 days. Currently, 16.5% of the company’s stock are sold short.

Shares of IMMU stock opened at $18.78 on Monday. Immunomedics has a 12-month low of $11.55 and a 12-month high of $21.23. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of -18.23 and a beta of 2.13. The business has a 50 day simple moving average of $16.84 and a 200 day simple moving average of $14.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 6.51 and a quick ratio of 6.51.

Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.09). During the same period last year, the company earned ($0.34) earnings per share. On average, equities analysts anticipate that Immunomedics will post -1.78 EPS for the current fiscal year.

In related news, insider Bryan Ball purchased 5,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were acquired at an average cost of $14.18 per share, for a total transaction of $70,900.00. Following the transaction, the insider now owns 10,000 shares of the company’s stock, valued at $141,800. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Avoro Capital Advisors Llc purchased 1,000,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $13.23 per share, for a total transaction of $13,230,000.00. The disclosure for this purchase can be found here. Corporate insiders own 9.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of IMMU. Arden Trust Co bought a new position in Immunomedics in the 2nd quarter worth approximately $143,000. Steward Partners Investment Advisory LLC bought a new position in Immunomedics during the 2nd quarter valued at $49,000. Creative Planning boosted its stake in Immunomedics by 3.7% during the 2nd quarter. Creative Planning now owns 242,528 shares of the biopharmaceutical company’s stock valued at $3,364,000 after purchasing an additional 8,672 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Immunomedics by 61.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 50,420 shares of the biopharmaceutical company’s stock valued at $699,000 after purchasing an additional 19,140 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Immunomedics by 3.2% during the 2nd quarter. Janus Henderson Group PLC now owns 3,956,289 shares of the biopharmaceutical company’s stock valued at $54,874,000 after purchasing an additional 124,387 shares in the last quarter. 83.57% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on IMMU shares. Piper Jaffray Companies increased their price target on Immunomedics from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group set a $22.00 price target on Immunomedics and gave the stock a “buy” rating in a research report on Tuesday, September 10th. HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of Immunomedics in a research report on Thursday, October 31st. BidaskClub upgraded Immunomedics from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Cowen set a $30.00 price target on Immunomedics and gave the stock a “buy” rating in a research report on Sunday, September 29th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Immunomedics presently has a consensus rating of “Buy” and an average target price of $26.22.

About Immunomedics

Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. Its advanced antibody-drug conjugates are sacituzumab govitecan and labetuzumab govitecan, which are in advanced trials for various solid tumors and metastatic colorectal cancer, respectively.

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