Zacks Investment Research Lowers Unum Therapeutics (UMRX) to Sell

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Unum Therapeutics (NASDAQ:UMRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Unum Therapeutics Inc. is a biopharmaceutical company. It focused on the development and commercialization of novel immunotherapy products of immune system to cure cancer. The company’s program consists of ACTR087 rituximab, ACTR707 RITUXIMAB, ACTR087 SEA-BCMA which are in clinical stage. Unum Therapeutics Inc. is based in Cambridge, United States. “

UMRX has been the subject of several other reports. Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Unum Therapeutics in a research report on Tuesday, September 18th. Cowen reissued a “hold” rating on shares of Unum Therapeutics in a research report on Monday, September 17th. Finally, Morgan Stanley lifted their price target on shares of Unum Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $20.67.

Shares of NASDAQ:UMRX traded down $0.05 on Wednesday, hitting $9.82. The company had a trading volume of 1,422 shares, compared to its average volume of 280,360. Unum Therapeutics has a 1 year low of $9.01 and a 1 year high of $17.66.

Unum Therapeutics (NASDAQ:UMRX) last posted its earnings results on Monday, August 13th. The company reported ($0.31) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.02. The company had revenue of $1.67 million during the quarter, compared to analysts’ expectations of $2.45 million. As a group, research analysts forecast that Unum Therapeutics will post -1.56 earnings per share for the current year.

In related news, insider Seth Ettenberg sold 11,485 shares of Unum Therapeutics stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $12.47, for a total transaction of $143,217.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Spark Investment Management LLC bought a new stake in Unum Therapeutics during the 2nd quarter valued at about $186,000. Wasatch Advisors Inc. increased its stake in Unum Therapeutics by 5.3% during the 2nd quarter. Wasatch Advisors Inc. now owns 267,625 shares of the company’s stock valued at $3,840,000 after purchasing an additional 13,525 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Unum Therapeutics during the 1st quarter valued at about $3,599,000. Cowen Inc. bought a new stake in Unum Therapeutics during the 2nd quarter valued at about $8,341,000. Finally, Keybank National Association OH bought a new stake in Unum Therapeutics during the 2nd quarter valued at about $195,000. 51.50% of the stock is owned by institutional investors.

Unum Therapeutics Company Profile

Unum Therapeutics Inc, a clinical stage biopharmaceutical company, develops and commercializes immunotherapy products designed to harness the power of a patient's immune system to cure cancer. Its lead product candidate is the ACTR087 used in combination with rituximab, which is in Phase I clinical trials to treat adult patients with relapsed or refractory non-Hodgkin lymphoma.

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