Friday, January 8, 2010

Immunomedics Stock/Option Spike on Patent (IMMU)

Stock Assault 2.0 - Artificial Intelligence Stock Market Software

Immunomedics, Inc. (NASDAQ: IMMU) has spiked higher on a US patent #7,641,901 in a released titled “Potential Lupus Drug Gains U.S. Patent”…. After HGSI the lupus word is all thatw as needed.  The company already has 141 US patents and 302 worldwide patents…. Shares are off of highs already… Its $3.93 price is a gain of 20.2% after a $3.27 close yesterday and its 2.95 million shares as of 10:49 AM EST compares to average daily volume of 823,000 shares.  The market cap is $295.5 million after the gain, and the 52-week trading range is $0.84 to $7.17.

For whatever this is worth, the stock does trade options and the volume there has spiked up as well: the JAN10 $5 CALLS traded 1,499 contracts versus an open interest of 4,620 contracts.  The same strike for FEB10 traded 435 contracts versus 2,901 open interest.


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