ImmuCell (NASDAQ:ICCC) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

ImmuCell (NASDAQ:ICCC) issued its quarterly earnings results on Thursday. The biotechnology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.15, FiscalAI reports. ImmuCell had a return on equity of 2.75% and a net margin of 2.57%.The firm had revenue of $7.19 million during the quarter, compared to the consensus estimate of $5.40 million.

ImmuCell Price Performance

Shares of ImmuCell stock traded down $0.85 on Friday, hitting $10.05. The company’s stock had a trading volume of 92,025 shares, compared to its average volume of 19,725. ImmuCell has a 52-week low of $4.52 and a 52-week high of $12.10. The company has a quick ratio of 2.60, a current ratio of 4.82 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average price of $10.51 and a 200-day moving average price of $8.51. The company has a market capitalization of $90.95 million, a P/E ratio of 125.64 and a beta of 0.54.

Insiders Place Their Bets

In other ImmuCell news, CEO Boekhorst Paul Francis Oliv Te bought 8,000 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was bought at an average price of $9.49 per share, for a total transaction of $75,920.00. Following the completion of the transaction, the chief executive officer owned 17,785 shares in the company, valued at approximately $168,779.65. The trade was a 81.76% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmuCell stock. Geode Capital Management LLC boosted its stake in ImmuCell Corporation (NASDAQ:ICCC) by 4.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,852 shares of the biotechnology company’s stock after buying an additional 2,907 shares during the quarter. Geode Capital Management LLC owned approximately 0.79% of ImmuCell worth $500,000 as of its most recent filing with the SEC. 13.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of ImmuCell in a research report on Thursday, July 2nd. Wall Street Zen raised shares of ImmuCell to a “strong-buy” rating in a report on Saturday, June 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

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.