Renaissance Technologies LLC Has $2.17 Million Holdings in OncoMed Pharmaceuticals, Inc. (OMED)
Renaissance Technologies LLC raised its position in shares of OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 529,300 shares of the biopharmaceutical company’s stock after acquiring an additional 117,700 shares during the period. Renaissance Technologies LLC’s holdings in OncoMed Pharmaceuticals were worth $2,170,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of OMED. Algert Global LLC bought a new position in OncoMed Pharmaceuticals during the fourth quarter valued at $266,000. Virtu Financial LLC bought a new position in OncoMed Pharmaceuticals during the fourth quarter valued at $170,000. Spark Investment Management LLC bought a new position in OncoMed Pharmaceuticals during the fourth quarter valued at $228,000. Finally, AXA increased its position in OncoMed Pharmaceuticals by 29.5% during the fourth quarter. AXA now owns 131,785 shares of the biopharmaceutical company’s stock valued at $540,000 after acquiring an additional 30,006 shares during the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.
NASDAQ OMED opened at $3.09 on Friday. The stock has a market capitalization of $111.53, a PE ratio of -2.97 and a beta of 1.82. OncoMed Pharmaceuticals, Inc. has a 12 month low of $1.74 and a 12 month high of $5.56.
OMED has been the topic of a number of analyst reports. Zacks Investment Research cut shares of OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. HC Wainwright restated a “hold” rating and issued a $3.00 price target on shares of OncoMed Pharmaceuticals in a report on Friday, March 9th. Finally, Cantor Fitzgerald set a $6.00 price target on shares of OncoMed Pharmaceuticals and gave the stock a “hold” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.42.
About OncoMed Pharmaceuticals
OncoMed Pharmaceuticals, Inc discovers and develops cancer stem cell (CSC) and immuno-oncology therapeutics. The company's product candidates and preclinical programs include demcizumab (anti-DLL4, OMP-21M18), a humanized monoclonal antibody, in Phase II trial for pancreatic cancer, a randomized Phase II trial in non-small cell lung cancer, and a Phase Ib trial for solid tumor; tarextumab (anti-Notch2/3, OMP-59R5) that targets the Notch2 and Notch3 receptors, which is in Phase II clinical trial for small cell lung cancer; vantictumab (anti-Fzd, OMP-18R5) in two Phase Ib clinical trials for breast and pancreatic cancer; ipafricept (Fzd8-Fc, OMP-54F28), a fusion protein based on Frizzled8 receptor, which is in two Phase Ib clinical trials for ovarian and pancreatic cancer; and navicixizumab (anti-DLL4/VEGF Bispecific, OMP-305B83), a monoclonal antibody that targets DLL4 and vascular endothelial growth factor, which is in Phase Ia single-agent clinical trial for solid tumors, and two Phase Ib clinical trial for ovarian and metastatic colorectal cancer.
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