Immunomedics (NASDAQ:IMMU) has tumbled 14.43% during the past week and has dropped 36.96% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 13.4%. Immunomedics (NASDAQ:IMMU) has underperformed the index by 37.53% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Immunomedics (NASDAQ:IMMU): The stock opened at $2.80 on Friday but the bulls could not build on the opening and the stock topped out at $2.87 for the day. The stock traded down to $2.59 during the day, due to lack of any buying support eventually closed down at $2.61 with a loss of -7.12% for the day. The stock had closed at $2.81 on the previous day. The total traded volume was 4,477,413 shares.
The company shares have dropped -39.58% from its 1 Year high price. On Jun 2, 2016, the shares registered one year high at $5.44 and the one year low was seen on Sep 29, 2015. The 50-Day Moving Average price is $3.83 and the 200 Day Moving Average price is recorded at $2.88.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (CSO & Chairman of the BOD) of Immunomedics Inc, Goldenberg David M had sold 371,990 shares worth of $1,130,850 in a transaction dated June 10, 2016. In this transaction, 371,990 shares were sold at $3.04 per share.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Jefferies, upgrades their rating on the shares of Immunomedics (NASDAQ:IMMU). Jefferies has a Buy rating on the shares. Previously, the analysts had a Hold rating on the shares. As per the latest research report, the brokerage house raises the price target to $5 per share from a prior target of $1.5. The rating by the firm was issued on May 6, 2016. Currently the company Insiders own 8.8% of Immunomedics shares according to the proxy statements. Institutional Investors own 51.22% of Immunomedics shares.
Immunomedics, Inc. is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. The Companys technologies allow it to create humanized antibodies in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins. Its product candidates include 90Y-clivatuzumab tetraxetan. Its radiolabeled antibody is in a Phase III registration trial in patients with advanced pancreatic cancer. Its portfolio of investigational products also includes antibody-drug conjugates (ADCs). Its ADCs consist of sacituzumab govitecan (IMMU-132) and labetuzumab govitecan (IMMU-130), which are in Phase II trials for a number of solid tumors and metastatic colorectal cancer (mCRC), respectively. It has other product candidates that target solid tumors and hematologic malignancies, as well as other diseases, in clinical and pre-clinical development-stages.