The Bank of New York Mellon Corp reached $1,106,000 position of OncoMed Pharmaceuticals Inc. (OMED)

The Bank of New York Mellon Corp reached $1,106,000 position  of OncoMed Pharmaceuticals Inc. (OMED)

Bank of New York Mellon Corp raised its stake in shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) by 4.9% during the second quarter, Holdings Channel reports. The firm owned 89,819 shares of the biopharmaceutical company’s stock after buying an additional 4,226 shares during the period. Bank of New York Mellon Corp owned about 0.30% of OncoMed Pharmaceuticals worth $1,106,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. BVF Inc. IL raised its stake in shares of OncoMed Pharmaceuticals by 35.1% in the first quarter. BVF Inc. IL now owns 1,339,336 shares of the biopharmaceutical company’s stock valued at $13,541,000 after buying an additional 347,903 shares during the period. State Street Corp increased its position in shares of OncoMed Pharmaceuticals by 6.5% in the first quarter. State Street Corp now owns 236,832 shares of the biopharmaceutical company’s stock valued at $2,396,000 after buying an additional 14,518 shares during the period. Primecap Management Co. CA increased its position in shares of OncoMed Pharmaceuticals by 12.5% in the first quarter. Primecap Management Co. CA now owns 215,800 shares of the biopharmaceutical company’s stock valued at $2,182,000 after buying an additional 24,000 shares during the period. Candriam Luxembourg S.C.A. increased its position in shares of OncoMed Pharmaceuticals by 59.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 167,000 shares of the biopharmaceutical company’s stock valued at $2,056,000 after buying an additional 62,000 shares during the period. Finally, Barclays PLC increased its position in shares of OncoMed Pharmaceuticals by 916.3% in the first quarter. Barclays PLC now owns 117,537 shares of the biopharmaceutical company’s stock valued at $1,175,000 after buying an additional 105,972 shares during the period. 30.66% of the stock is currently owned by hedge funds and other institutional investors.

OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) traded down 1.59% during mid-day trading on Friday, reaching $9.93. The company had a trading volume of 75,650 shares. OncoMed Pharmaceuticals Inc. has a one year low of $8.42 and a one year high of $23.98. The firm’s market capitalization is $304.56 million. The firm’s 50-day moving average is $11.08 and its 200-day moving average is $11.78.

OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.81) by $0.10. OncoMed Pharmaceuticals had a negative net margin of 424.46% and a negative return on equity of 1,307.23%. The firm had revenue of $6.67 million for the quarter, compared to analyst estimates of $8.09 million. During the same period in the previous year, the business posted ($0.72) earnings per share. The business’s revenue for the quarter was up 42.2% compared to the same quarter last year. On average, equities research analysts anticipate that OncoMed Pharmaceuticals Inc. will post ($3.34) earnings per share for the current fiscal year.

OMED has been the subject of several recent research reports. HC Wainwright initiated coverage on OncoMed Pharmaceuticals in a report on Thursday, September 22nd. They set a “buy” rating and a $20.00 price objective for the company. Jefferies Group upped their price target on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $16.00 price target on shares of OncoMed Pharmaceuticals in a research note on Thursday, July 14th. Zacks Investment Research raised OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Finally, Leerink Swann reaffirmed a “market perform” rating and issued a $13.00 price target on shares of OncoMed Pharmaceuticals in a research note on Monday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.25.

About OncoMed Pharmaceuticals

OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing anti-cancer stem cell (CSC) and immuno-oncology therapeutics. The Company’s product 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), Anti-DLL4/VEGF Bispecific (OMP-305B83), Anti-RSPO3 (OMP-131R10) and GITRL-Fc.

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