Immunomedics, Inc. (NASDAQ:IMMU) shares gapped up before the market opened on Wednesday . The stock had previously closed at $8.69, but opened at $9.00. Immunomedics shares last traded at $9.03, with a volume of 4021600 shares changing hands.

A number of brokerages have weighed in on IMMU. Zacks Investment Research cut shares of Immunomedics from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Jefferies Group lifted their price target on shares of Immunomedics from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, September 19th. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, ValuEngine cut shares of Immunomedics from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.33.

The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of -0.29.

In other news, insider Behzad Aghazadeh acquired 1,325,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were bought at an average price of $10.47 per share, for a total transaction of $13,872,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Venbio Select Advisor Llc acquired 1,150,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $10.39 per share, for a total transaction of $11,948,500.00. The disclosure for this purchase can be found here. Company insiders own 6.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of IMMU. Amalgamated Bank increased its stake in shares of Immunomedics by 8.1% in the second quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 966 shares during the last quarter. Stephens Inc. AR bought a new stake in shares of Immunomedics in the second quarter worth $115,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Immunomedics by 11.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 1,473 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Immunomedics by 99.3% in the second quarter. SG Americas Securities LLC now owns 20,719 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 10,323 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Immunomedics by 38.8% in the first quarter. Bank of America Corp DE now owns 33,707 shares of the biopharmaceutical company’s stock worth $218,000 after buying an additional 9,426 shares during the last quarter. Institutional investors own 76.32% of the company’s stock.

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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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