Oncomed Pharmaceuticals Inc (NASDAQ:OMED) saw strong trading volume on Friday . 3,356,692 shares changed hands during trading, an increase of 602% from the previous session’s volume of 478,194 shares.The stock last traded at $0.99 and had previously closed at $0.83.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Oncomed Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 2nd. ValuEngine upgraded Oncomed Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Wells Fargo & Co reiterated a “market perform” rating and set a $1.50 price target (down from $8.00) on shares of Oncomed Pharmaceuticals in a report on Thursday, December 6th.

The firm has a market capitalization of $32.45 million, a price-to-earnings ratio of -6.19 and a beta of 1.81.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Birchview Capital LP grew its holdings in shares of Oncomed Pharmaceuticals by 45.4% during the 4th quarter. Birchview Capital LP now owns 172,557 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 53,868 shares during the period. Geode Capital Management LLC grew its holdings in shares of Oncomed Pharmaceuticals by 36.1% during the 4th quarter. Geode Capital Management LLC now owns 173,563 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 46,083 shares during the period. Norges Bank purchased a new position in shares of Oncomed Pharmaceuticals during the 4th quarter worth $136,000. Acadian Asset Management LLC grew its holdings in shares of Oncomed Pharmaceuticals by 26.1% during the 4th quarter. Acadian Asset Management LLC now owns 195,107 shares of the biopharmaceutical company’s stock worth $146,000 after purchasing an additional 40,353 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Oncomed Pharmaceuticals during the 3rd quarter worth $200,000. Institutional investors and hedge funds own 44.76% of the company’s stock.

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Oncomed Pharmaceuticals Company Profile (NASDAQ:OMED)

OncoMed Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics that address the fundamental biology driving cancer's growth, resistance, recurrence, and metastasis. The company's product candidates and preclinical programs include navicixizumab (anti-DLL4/VEGF Bispecific, OMP-305B83), a monoclonal antibody that targets Delta-like ligand 4 and vascular endothelial growth factor, which has completed a single-agent Phase Ia clinical trial in patients with advanced solid tumors, as well as in two Phase Ib clinical trials for patients with platinum-resistant ovarian cancer and metastatic colorectal cancer; anti-TIGIT (OMP-313M32), a T-cell immunoreceptor with immunoglobulin and ITIM domain, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; GITRL-Fc (OMP-336B11), a glucocorticoid-induced tumor necrosis factor receptor -related protein and its ligand, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; and rosmantuzumab (anti-RSPO3, OMP-131R10), a monoclonal antibody targeting the RSPO-LGR CSC pathway.

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