Immunomedics, Inc. (IMMU) Short Interest Update

Immunomedics, Inc. (NASDAQ:IMMU) was the target of a large increase in short interest during the month of September. As of September 28th, there was short interest totalling 19,884,011 shares, an increase of 10.9% from the September 14th total of 17,928,831 shares. Based on an average trading volume of 1,727,201 shares, the days-to-cover ratio is presently 11.5 days. Currently, 11.9% of the company’s shares are sold short.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMMU. RA Capital Management LLC purchased a new position in shares of Immunomedics in the 2nd quarter valued at approximately $73,845,000. Menora Mivtachim Holdings LTD. purchased a new position in shares of Immunomedics in the 2nd quarter valued at approximately $12,069,000. TD Asset Management Inc. lifted its stake in shares of Immunomedics by 25.9% in the 2nd quarter. TD Asset Management Inc. now owns 215,088 shares of the biopharmaceutical company’s stock valued at $5,091,000 after purchasing an additional 44,288 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Immunomedics by 17.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 705,730 shares of the biopharmaceutical company’s stock valued at $16,705,000 after purchasing an additional 104,742 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Immunomedics by 4,518.2% in the 1st quarter. Royal Bank of Canada now owns 156,326 shares of the biopharmaceutical company’s stock valued at $2,284,000 after purchasing an additional 152,941 shares during the period. Institutional investors and hedge funds own 78.25% of the company’s stock.

NASDAQ IMMU opened at $21.35 on Friday. Immunomedics has a fifty-two week low of $8.68 and a fifty-two week high of $27.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 14.83 and a quick ratio of 14.83. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of -20.19 and a beta of 1.85.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings data on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.46). Immunomedics had a negative return on equity of 124.54% and a negative net margin of 12,701.21%. The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $4.27 million. During the same quarter last year, the business posted ($0.48) EPS. The company’s quarterly revenue was down 33.3% compared to the same quarter last year. As a group, research analysts expect that Immunomedics will post -1.09 earnings per share for the current year.

Several research firms have weighed in on IMMU. ValuEngine upgraded Immunomedics from a “buy” rating to a “strong-buy” rating in a report on Monday, July 2nd. BidaskClub upgraded Immunomedics from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research cut Immunomedics from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. B. Riley increased their price objective on Immunomedics from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Finally, TheStreet cut Immunomedics from a “c-” rating to a “d+” rating in a report on Tuesday, September 11th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Immunomedics has a consensus rating of “Buy” and an average price target of $36.40.

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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