Quick Win By The Algorithm: Immunomedics Gained 15.21% For 3 Days

Quick Win By The Algorithm

On Aug. 22, 2017, I Know First’s algorithm issued a bullish forecast for Immunomedics Inc. (NASDAQ: IMMU), with a signal of  and a predictability factor of 0.13. These 3-days returns confirmed the algorithm’s prediction as the stock price went up by 15.21%.

immunomedics analysis

 

Immunomedics, Inc. is a clinical-stage biopharmaceutical company. It engages in the business of researching, developing, manufacturing and marketing biopharmaceutical products. The company primarily focused on the development of monoclonal, antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. It markets and sells its products in the U.S. and throughout Europe. The company was founded by David M. Goldenberg in July 1982 and is headquartered in Morris Plains, NJ.

immunomedics analysis

IMMU had a good time on the market previous week – its shares rise over 15% on three days. The stock rose after the report, which showed positive dynamics of Phase 2 study on its antibody-drug conjugate (ADC), labetuzumab govitecan (IMMU-130).

Price so high first time since 2003. With such gains, Immunomedics Inc. now has a market cap of $1.05 billion. The next possible level is the $14-$15 zone.

The data from a Phase 2 clinical trial assessing Immunomedics’ IMMU-130 in patients with metastatic colorectal cancer (CRC) showed a positive treatment effect.

Receiving a once-weekly dose of 8-10 mg/kg of labetuzumab govitecan experienced median progression-free survival (PFS) of 4.6 months and 3.6 months, respectively. Median overall survival (OS) was 7.5 months and 6.4 months, respectively.

The development of IMMU-130 is ongoing.

I Know First subscribers were sent this forecast on August 22d, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.