Immunomedics (IMMU) : Traders are increasing their bearish positions on the stock, as is visible by the 4.5% jump in the outstanding short positions; a total addition of 1,024,540 shares on the sell side. On Jul 29, 2016, the total short positions were 22,769,079 shares, which went up to 23,793,619 shares by the close of trading on August 15, 2016. It will take 29 days for the bears to roll over or cover. An average of 811,474 shares exchange hands daily. 27% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
Immunomedics (NASDAQ:IMMU): The stock opened at $2.97 on Wednesday but the bulls could not build on the opening and the stock topped out at $3.03 for the day. The stock traded down to $2.75 during the day, due to lack of any buying support eventually closed down at $2.76 with a loss of -7.07% for the day. The stock had closed at $2.97 on the previous day. The total traded volume was 963,901 shares.
In a related news, The director officer (CSO & Chairman of the BOD), of Immunomedics Inc, Goldenberg David M had unloaded 371,990 shares at $3.04 per share in a transaction on June 10, 2016. The total value of transaction was $1,130,850. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
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.