Immunomedics (IMMU) is Downgraded by Wells Fargo to Market Perform

Immunomedics (IMMU) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jun 21, 2016.

Many Wall Street Analysts have commented on Immunomedics. Immunomedics was Upgraded by Jefferies to ” Buy” on May 6, 2016.

Immunomedics closed down -0.08 points or -3.07% at $2.53 with 27,21,056 shares getting traded on Monday. Post opening the session at $2.58, the shares hit an intraday low of $2.49 and an intraday high of $2.65 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 14, 2016, David M Goldenberg (CSO & Chairman of the BOD) sold 371,990 shares at $3.04 per share price. According to the SEC, on Jun 14, 2016, Cynthia L Goldenberg (President and CEO) sold 371,990 shares at $3.04 per share price. On Dec 14, 2015, Don C Stark (director) sold 5,100 shares at $3.15 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.


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