Immunomedics, Inc. (IMMU) Short Interest Update

Immunomedics, Inc. (NASDAQ:IMMU) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 28,429,341 shares, a growth of 9.1% from the December 14th total of 26,067,596 shares. Currently, 16.7% of the shares of the company are short sold. Based on an average daily trading volume, of 3,809,919 shares, the days-to-cover ratio is presently 7.5 days.

IMMU has been the subject of several recent research reports. Guggenheim initiated coverage on shares of Immunomedics in a research report on Tuesday, September 18th. They set a “buy” rating and a $33.00 target price for the company. Goldman Sachs Group initiated coverage on shares of Immunomedics in a research report on Monday, September 17th. They set a “buy” rating and a $36.00 target price for the company. Piper Jaffray Companies initiated coverage on shares of Immunomedics in a research report on Thursday, October 18th. They set a “buy” rating and a $33.00 target price for the company. Cowen restated a “buy” rating and set a $30.00 target price on shares of Immunomedics in a research report on Friday, December 7th. Finally, Jefferies Financial Group initiated coverage on shares of Immunomedics in a research report on Thursday, November 8th. They set a “buy” rating and a $30.00 target price for the company. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Immunomedics has an average rating of “Buy” and a consensus price target of $37.38.

IMMU opened at $17.91 on Friday. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -17.39 and a beta of 2.13. Immunomedics has a 1-year low of $12.86 and a 1-year high of $27.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 13.45 and a quick ratio of 13.45.

Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.06). Immunomedics had a negative return on equity of 85.57% and a negative net margin of 12,701.21%. During the same quarter in the prior year, the business earned ($0.97) earnings per share. Equities research analysts anticipate that Immunomedics will post -1.2 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Immunomedics by 8.7% in the third quarter. BlackRock Inc. now owns 12,203,782 shares of the biopharmaceutical company’s stock worth $254,206,000 after purchasing an additional 974,954 shares during the period. FMR LLC lifted its holdings in shares of Immunomedics by 9.0% in the second quarter. FMR LLC now owns 8,494,182 shares of the biopharmaceutical company’s stock worth $201,057,000 after buying an additional 699,658 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Immunomedics by 37.4% in the second quarter. Millennium Management LLC now owns 3,742,519 shares of the biopharmaceutical company’s stock worth $88,585,000 after buying an additional 1,019,401 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Immunomedics by 13.1% in the third quarter. Janus Henderson Group PLC now owns 3,640,299 shares of the biopharmaceutical company’s stock worth $75,827,000 after buying an additional 422,540 shares in the last quarter. Finally, Foresite Capital Management III LLC lifted its holdings in shares of Immunomedics by 5.9% in the third quarter. Foresite Capital Management III LLC now owns 2,691,729 shares of the biopharmaceutical company’s stock worth $56,069,000 after buying an additional 150,000 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

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Immunomedics Company Profile

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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