Short Interest in Immunomedics, Inc. (IMMU) Decreases By 15.9%

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Immunomedics, Inc. (NASDAQ:IMMU) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 16,963,631 shares, a decrease of 15.9% from the July 13th total of 20,165,241 shares. Based on an average daily trading volume, of 1,942,013 shares, the short-interest ratio is presently 8.7 days. Currently, 10.8% of the shares of the company are short sold.

In other Immunomedics news, Director Venbio Select Advisor Llc acquired 575,000 shares of the company’s stock in a transaction on Friday, June 15th. The shares were purchased at an average price of $24.00 per share, for a total transaction of $13,800,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.80% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC acquired a new stake in Immunomedics during the first quarter worth approximately $180,000. Xact Kapitalforvaltning AB acquired a new stake in Immunomedics during the fourth quarter worth approximately $193,000. First Allied Advisory Services Inc. acquired a new stake in Immunomedics during the second quarter worth approximately $205,000. Trexquant Investment LP acquired a new stake in shares of Immunomedics in the 2nd quarter valued at $298,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Immunomedics by 831.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 20,657 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 18,440 shares in the last quarter. 74.39% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on IMMU shares. BidaskClub lowered Immunomedics from a “buy” rating to a “hold” rating in a research note on Saturday, August 4th. ValuEngine upgraded Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 2nd. Zacks Investment Research lowered Immunomedics from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. Finally, Wells Fargo & Co increased their target price on Immunomedics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, June 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.50.

Shares of NASDAQ IMMU opened at $23.61 on Monday. The company has a market cap of $3.90 billion, a PE ratio of -29.15 and a beta of 1.72. The company has a debt-to-equity ratio of 2.81, a quick ratio of 3.94 and a current ratio of 3.94. Immunomedics has a 1-year low of $7.17 and a 1-year high of $27.33.

About Immunomedics

Immunomedics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders, and other diseases. The company engages in developing antibody-drug conjugate (ADC) products comprising IMMU-132, an ADC that contains SN-38, which is in Phase II trials used for the treatment of patients with metastatic triple-negative breast cancer, and small-cell and non-small-cell lung cancers; IMMU-130, an anti-CEACAN5-SN-38 ADC that is in Phase II trials for the treatment of solid tumors and metastatic colorectal cancer; and IMMU-140 that targets HLA-DR for the potential treatment of liquid cancers.

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