Oncomed Pharmaceuticals (OMED) Sees Unusually-High Trading Volume

Oncomed Pharmaceuticals Inc (NASDAQ:OMED) saw strong trading volume on Friday . 3,356,692 shares changed hands during trading, an increase of 602% from the previous session’s volume of 478,194 shares.The stock last traded at $0.99 and had previously closed at $0.83.

OMED has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Oncomed Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $1.50 target price (down from $8.00) on shares of Oncomed Pharmaceuticals in a research note on Thursday, December 6th. Finally, ValuEngine raised shares of Oncomed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.

The company has a market cap of $32.45 million, a price-to-earnings ratio of -6.19 and a beta of 1.81.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP purchased a new stake in Oncomed Pharmaceuticals in the third quarter valued at approximately $200,000. Birchview Capital LP raised its stake in Oncomed Pharmaceuticals by 45.4% in the fourth quarter. Birchview Capital LP now owns 172,557 shares of the biopharmaceutical company’s stock valued at $129,000 after purchasing an additional 53,868 shares in the last quarter. Geode Capital Management LLC raised its stake in Oncomed Pharmaceuticals by 36.1% in the fourth quarter. Geode Capital Management LLC now owns 173,563 shares of the biopharmaceutical company’s stock valued at $129,000 after purchasing an additional 46,083 shares in the last quarter. Norges Bank purchased a new stake in Oncomed Pharmaceuticals in the fourth quarter valued at approximately $136,000. Finally, Acadian Asset Management LLC raised its stake in Oncomed Pharmaceuticals by 26.1% in the fourth quarter. Acadian Asset Management LLC now owns 195,107 shares of the biopharmaceutical company’s stock valued at $146,000 after purchasing an additional 40,353 shares in the last quarter. 44.76% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This piece of content was first published by Transcript Daily and is owned by of Transcript Daily. If you are viewing this piece of content on another site, it was stolen and reposted in violation of US and international copyright law. The original version of this piece of content can be viewed at https://transcriptdaily.com/2019/03/16/oncomed-pharmaceuticals-omed-sees-unusually-high-trading-volume.html.

About Oncomed Pharmaceuticals (NASDAQ:OMED)

OncoMed Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics that address the fundamental biology driving cancer's growth, resistance, recurrence, and metastasis. The company's product candidates and preclinical programs include navicixizumab (anti-DLL4/VEGF Bispecific, OMP-305B83), a monoclonal antibody that targets Delta-like ligand 4 and vascular endothelial growth factor, which has completed a single-agent Phase Ia clinical trial in patients with advanced solid tumors, as well as in two Phase Ib clinical trials for patients with platinum-resistant ovarian cancer and metastatic colorectal cancer; anti-TIGIT (OMP-313M32), a T-cell immunoreceptor with immunoglobulin and ITIM domain, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; GITRL-Fc (OMP-336B11), a glucocorticoid-induced tumor necrosis factor receptor -related protein and its ligand, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; and rosmantuzumab (anti-RSPO3, OMP-131R10), a monoclonal antibody targeting the RSPO-LGR CSC pathway.

Recommended Story: How is the LIBOR rate calculated?

Receive News & Ratings for Oncomed Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oncomed Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.