Alps Advisors Inc. boosted its stake in OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) by 25.7% during the second quarter, Holdings Channel reports. The institutional investor owned 42,562 shares of the biopharmaceutical company’s stock after buying an additional 8,701 shares during the period. Alps Advisors Inc.’s holdings in OncoMed Pharmaceuticals were worth $524,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of OMED. BVF Inc. IL raised its stake in OncoMed Pharmaceuticals by 35.1% in the first quarter. BVF Inc. IL now owns 1,339,336 shares of the biopharmaceutical company’s stock valued at $13,541,000 after buying an additional 347,903 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in OncoMed Pharmaceuticals by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 14,959 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 90 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in OncoMed Pharmaceuticals by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 265,174 shares of the biopharmaceutical company’s stock valued at $2,681,000 after buying an additional 4,335 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in OncoMed Pharmaceuticals during the first quarter valued at about $832,000. Finally, Bogle Investment Management L P DE purchased a new stake in OncoMed Pharmaceuticals during the first quarter valued at about $1,131,000. Institutional investors and hedge funds own 30.66% of the company’s stock.
Shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) traded up 2.01% during trading on Monday, hitting $11.66. 113,739 shares of the stock were exchanged. The stock’s 50 day moving average price is $11.05 and its 200 day moving average price is $11.76. OncoMed Pharmaceuticals Inc. has a 52 week low of $8.42 and a 52 week high of $23.98. The firm’s market capitalization is $357.62 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by $0.10. OncoMed Pharmaceuticals had a negative net margin of 424.46% and a negative return on equity of 1,307.23%. The business earned $6.67 million during the quarter, compared to the consensus estimate of $8.09 million. During the same period last year, the firm earned ($0.72) EPS. The business’s revenue for the quarter was up 42.2% on a year-over-year basis. On average, equities analysts predict that OncoMed Pharmaceuticals Inc. will post ($3.34) earnings per share for the current year.
Several analysts recently issued reports on OMED shares. HC Wainwright started coverage on shares of OncoMed Pharmaceuticals in a research report on Thursday, September 22nd. They set a “buy” rating and a $20.00 price target on the stock. Zacks Investment Research upgraded shares of OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Cantor Fitzgerald restated a “buy” rating and issued a $16.00 target price on shares of OncoMed Pharmaceuticals in a research report on Thursday, July 14th. Finally, Jefferies Group raised their target price on shares of OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. OncoMed Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $19.38.
OncoMed Pharmaceuticals Company Profile
OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing anti-cancer stem cell (CSC) and immuno-oncology therapeutics. The Company’s product candidates and preclinical programs include Demcizumab (Anti-DLL4, OMP-21M18), Tarextumab (Anti-Notch2/3, OMP-59R5), Vantictumab (anti-Fzd7, OMP-18R5), Ipafricept (Fzd8-Fc, OMP-54F28), Brontictuzumab (Anti-Notch1, OMP-52M51), Anti-DLL4/VEGF Bispecific (OMP-305B83), Anti-RSPO3 (OMP-131R10) and GITRL-Fc.
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