NJ State Employees Deferred Compensation Plan maintained its position in shares of OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,000 shares of the biopharmaceutical company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in OncoMed Pharmaceuticals were worth $160,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in shares of OncoMed Pharmaceuticals by 15.6% in the fourth quarter. State Street Corp now owns 341,271 shares of the biopharmaceutical company’s stock worth $2,628,000 after buying an additional 46,171 shares during the period. Piermont Capital Management Inc. acquired a new position in shares of OncoMed Pharmaceuticals during the first quarter worth about $481,000. Candriam Luxembourg S.C.A. raised its position in shares of OncoMed Pharmaceuticals by 3.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 214,000 shares of the biopharmaceutical company’s stock worth $1,971,000 after buying an additional 7,000 shares during the period. Primecap Management Co. CA raised its position in shares of OncoMed Pharmaceuticals by 5.9% in the first quarter. Primecap Management Co. CA now owns 1,906,600 shares of the biopharmaceutical company’s stock worth $17,560,000 after buying an additional 105,900 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in shares of OncoMed Pharmaceuticals during the first quarter worth about $6,266,000. Institutional investors own 44.20% of the company’s stock.
Shares of OncoMed Pharmaceuticals, Inc. (OMED) opened at 3.65 on Friday. OncoMed Pharmaceuticals, Inc. has a one year low of $2.91 and a one year high of $12.58. The firm’s market capitalization is $137.35 million. The company’s 50 day moving average price is $3.53 and its 200 day moving average price is $5.71.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.10. The company had revenue of $6.20 million for the quarter, compared to the consensus estimate of $6.08 million. OncoMed Pharmaceuticals’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.91) earnings per share. On average, analysts expect that OncoMed Pharmaceuticals, Inc. will post ($1.85) EPS for the current fiscal year.
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A number of equities analysts have recently issued reports on the stock. Piper Jaffray Companies set a $5.00 target price on shares of OncoMed Pharmaceuticals and gave the stock a “hold” rating in a research report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating and set a $5.00 target price on shares of OncoMed Pharmaceuticals in a research report on Sunday, July 9th. ValuEngine lowered shares of OncoMed Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. HC Wainwright lowered their target price on shares of OncoMed Pharmaceuticals from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, May 15th. Finally, Cantor Fitzgerald set a $6.00 target price on shares of OncoMed Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $8.00.
In related news, Director Jonathan D. Root sold 13,880 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $3.71, for a total transaction of $51,494.80. Following the completion of the transaction, the director now directly owns 121,020 shares in the company, valued at approximately $448,984.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jonathan D. Root sold 7,487 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $3.70, for a total value of $27,701.90. Following the transaction, the director now owns 121,020 shares of the company’s stock, valued at $447,774. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 88,121 shares of company stock valued at $304,289. 32.80% of the stock is owned by company insiders.
OncoMed Pharmaceuticals Company Profile
OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical-stage biopharmaceutical company. The Company focuses on discovering and developing therapeutics that address the fundamental biology driving cancer’s growth, resistance, recurrence and metastasis. The Company’s therapeutic 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), Navicixizumab (Anti-DLL4/VEGF Bispecific, OMP-305B83), Anti-RSPO3 (OMP-131R10), Anti-TIGIT (OMP-313M32) and GITRL-Fc trimer (OMP-336B11).
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