Oncomed Pharmaceuticals Inc (OMED) Insider Sunil Patel Sells 5,754 Shares

Oncomed Pharmaceuticals Inc (NASDAQ:OMED) insider Sunil Patel sold 5,754 shares of the company’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $9.06, for a total value of $52,131.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Oncomed Pharmaceuticals Inc (NASDAQ:OMED) traded down 2.37% on Friday, reaching $3.71. The company had a trading volume of 244,414 shares. The company’s market capitalization is $138.75 million. Oncomed Pharmaceuticals Inc has a 52 week low of $3.70 and a 52 week high of $15.49. The company has a 50 day moving average of $8.25 and a 200-day moving average of $8.72.

Oncomed Pharmaceuticals (NASDAQ:OMED) last posted its earnings results on Wednesday, March 8th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.08. Oncomed Pharmaceuticals had a negative return on equity of 1,307.23% and a negative net margin of 409.54%. The business earned $6.22 million during the quarter, compared to the consensus estimate of $6.57 million. During the same period in the previous year, the business earned $1.50 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis. Analysts predict that Oncomed Pharmaceuticals Inc will post ($2.04) earnings per share for the current fiscal year.

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A number of brokerages recently weighed in on OMED. HC Wainwright set a $20.00 price objective on Oncomed Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, March 11th. BMO Capital Markets cut Oncomed Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $6.00 price objective for the company. in a research note on Tuesday, April 11th. JMP Securities cut Oncomed Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday. Leerink Swann upped their price objective on Oncomed Pharmaceuticals from $6.00 to $10.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 11th. Finally, Zacks Investment Research upgraded Oncomed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, March 23rd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Oncomed Pharmaceuticals has an average rating of “Hold” and a consensus price target of $12.44.

A number of institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC boosted its position in shares of Oncomed Pharmaceuticals by 10.8% in the fourth quarter. Teachers Advisors LLC now owns 30,423 shares of the biopharmaceutical company’s stock valued at $235,000 after buying an additional 2,961 shares during the period. Wells Fargo & Company MN boosted its position in shares of Oncomed Pharmaceuticals by 292.3% in the third quarter. Wells Fargo & Company MN now owns 49,536 shares of the biopharmaceutical company’s stock valued at $566,000 after buying an additional 36,910 shares during the period. Norges Bank bought a new position in shares of Oncomed Pharmaceuticals during the fourth quarter valued at about $1,406,000. Disciplined Growth Investors Inc. MN boosted its position in shares of Oncomed Pharmaceuticals by 8.6% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 326,900 shares of the biopharmaceutical company’s stock valued at $2,520,000 after buying an additional 25,975 shares during the period. Finally, State Street Corp boosted its position in shares of Oncomed Pharmaceuticals by 15.6% in the fourth quarter. State Street Corp now owns 341,271 shares of the biopharmaceutical company’s stock valued at $2,628,000 after buying an additional 46,171 shares during the period. Hedge funds and other institutional investors own 42.24% of the company’s stock.

Oncomed Pharmaceuticals Company Profile

OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical-stage biopharmaceutical company. The Company focuses on discovering and developing therapeutics that address the fundamental biology driving cancer’s growth, resistance, recurrence and metastasis. The Company’s therapeutic candidates and preclinical programs include Demcizumab (Anti-DLL4, OMP-21M18), Tarextumab (Anti-Notch2/3, OMP-59R5), Vantictumab (anti-Fzd7, OMP-18R5), Ipafricept (Fzd8-Fc, OMP-54F28), Brontictuzumab (Anti-Notch1, OMP-52M51), Navicixizumab (Anti-DLL4/VEGF Bispecific, OMP-305B83), Anti-RSPO3 (OMP-131R10), Anti-TIGIT (OMP-313M32) and GITRL-Fc trimer (OMP-336B11).

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