ImmuCell (NASDAQ:ICCC) Issues Quarterly Earnings Results

ImmuCell (NASDAQ:ICCC) released its earnings results on Wednesday. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $7.63 million during the quarter. ImmuCell had a net margin of 8.37% and a return on equity of 8.00%.

ImmuCell Price Performance

ICCC traded up $0.06 during trading on Wednesday, reaching $6.46. 12,029 shares of the company were exchanged, compared to its average volume of 18,941. The company’s 50-day moving average is $6.35 and its two-hundred day moving average is $6.09. The company has a quick ratio of 1.76, a current ratio of 4.21 and a debt-to-equity ratio of 0.27. ImmuCell has a 12-month low of $4.28 and a 12-month high of $7.60. The company has a market cap of $58.46 million, a price-to-earnings ratio of 24.85 and a beta of 0.27.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of ImmuCell from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, ImmuCell presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On ImmuCell

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of ImmuCell by 4.2% in the second quarter. Geode Capital Management LLC now owns 71,852 shares of the biotechnology company’s stock valued at $500,000 after acquiring an additional 2,907 shares during the period. Mesirow Financial Investment Management Inc. grew its stake in ImmuCell by 199.6% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 36,481 shares of the biotechnology company’s stock worth $224,000 after purchasing an additional 24,303 shares during the period. Finally, Steadtrust LLC boosted its stake in ImmuCell by 79.1% during the fourth quarter. Steadtrust LLC now owns 56,770 shares of the biotechnology company’s stock worth $349,000 after acquiring an additional 25,070 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

About ImmuCell

ImmuCell Corporation (NASDAQ: ICCC) is a biotechnology company that develops, manufactures, and markets immunological products and diagnostic assays designed to enhance animal health in dairy and beef cattle. Headquartered in Portland, Maine, the company focuses on supporting herd health management through its portfolio of passive immunology solutions and veterinary diagnostics.

The company’s flagship offering, CalfGuard natural colostrum supplement, is formulated to promote the passive transfer of antibodies in newborn calves and reduce the incidence of neonatal diseases.