Rice Hall James & Associates LLC raised its stake in shares of Immunomedics, Inc. (NASDAQ:IMMU) by 53.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 993,297 shares of the biopharmaceutical company’s stock after acquiring an additional 347,781 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.52% of Immunomedics worth $13,777,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Legal & General Group Plc raised its holdings in shares of Immunomedics by 19.7% in the fourth quarter. Legal & General Group Plc now owns 58,300 shares of the biopharmaceutical company’s stock valued at $832,000 after buying an additional 9,593 shares during the last quarter. Norges Bank bought a new position in shares of Immunomedics in the fourth quarter valued at about $16,141,000. Geode Capital Management LLC raised its holdings in shares of Immunomedics by 13.3% in the fourth quarter. Geode Capital Management LLC now owns 1,870,567 shares of the biopharmaceutical company’s stock valued at $26,692,000 after buying an additional 219,461 shares during the last quarter. Brinker Capital Inc. bought a new position in shares of Immunomedics in the first quarter valued at about $949,000. Finally, Exane Derivatives raised its holdings in shares of Immunomedics by 167.1% in the first quarter. Exane Derivatives now owns 5,999 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 3,753 shares during the last quarter. 91.37% of the stock is owned by institutional investors.
Shares of Immunomedics stock traded down $0.30 during trading on Thursday, hitting $14.60. 556,369 shares of the company were exchanged, compared to its average volume of 1,709,515. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -14.17 and a beta of 1.98. Immunomedics, Inc. has a 1-year low of $11.55 and a 1-year high of $26.99. The stock has a fifty day moving average price of $14.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.93 and a quick ratio of 9.93.
In other Immunomedics news, insider Avoro Capital Advisors Llc acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average cost of $13.55 per share, for a total transaction of $13,550,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bryan Ball acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average price of $13.35 per share, with a total value of $66,750.00. Following the completion of the transaction, the insider now directly owns 5,000 shares in the company, valued at approximately $66,750. The disclosure for this purchase can be found here. Insiders have bought a total of 3,726,078 shares of company stock valued at $47,241,402 over the last 90 days. Corporate insiders own 9.40% of the company’s stock.
A number of research analysts recently issued reports on IMMU shares. Cowen set a $30.00 price target on Immunomedics and gave the company a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research raised Immunomedics from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. BidaskClub raised Immunomedics from a “sell” rating to a “hold” rating in a report on Friday, June 28th. ValuEngine raised Immunomedics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target (down from $28.00) on shares of Immunomedics in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Immunomedics currently has an average rating of “Buy” and an average target price of $28.27.
Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. Its advanced antibody-drug conjugates are sacituzumab govitecan and labetuzumab govitecan, which are in advanced trials for various solid tumors and metastatic colorectal cancer, respectively.
Further Reading: SEC Filing
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