Virtus ETF Advisers LLC bought a new position in shares of Immunomedics, Inc. (NASDAQ:IMMU) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 21,587 shares of the biopharmaceutical company’s stock, valued at approximately $299,000.
Several other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its position in shares of Immunomedics by 177.7% during the 1st quarter. FMR LLC now owns 22,867,854 shares of the biopharmaceutical company’s stock worth $439,291,000 after buying an additional 14,632,374 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Immunomedics by 3.2% in the 2nd quarter. Janus Henderson Group PLC now owns 3,956,289 shares of the biopharmaceutical company’s stock worth $54,874,000 after purchasing an additional 124,387 shares during the period. Jennison Associates LLC raised its holdings in shares of Immunomedics by 23.1% in the 1st quarter. Jennison Associates LLC now owns 3,041,417 shares of the biopharmaceutical company’s stock worth $58,426,000 after purchasing an additional 570,016 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Immunomedics in the 1st quarter worth approximately $44,379,000. Finally, Fiera Capital Corp raised its holdings in shares of Immunomedics by 6.6% in the 2nd quarter. Fiera Capital Corp now owns 2,208,226 shares of the biopharmaceutical company’s stock worth $30,628,000 after purchasing an additional 136,173 shares during the period. 88.59% of the stock is currently owned by hedge funds and other institutional investors.
In other Immunomedics news, insider Avoro Capital Advisors Llc acquired 1,000,000 shares of Immunomedics 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bryan Ball acquired 5,000 shares of Immunomedics 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 purchase, 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 purchased a total of 1,405,000 shares of company stock valued at $18,916,750 over the last quarter. 9.40% of the stock is owned by company insiders.
A number of equities research analysts recently commented on IMMU shares. Piper Jaffray Companies set a $20.00 price target on shares of Immunomedics and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target (down previously from $28.00) on shares of Immunomedics in a report on Thursday, August 8th. BidaskClub raised shares of Immunomedics from a “sell” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group set a $22.00 price target on shares of Immunomedics and gave the stock a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research raised shares of Immunomedics from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Immunomedics has an average rating of “Buy” and an average target price of $28.33.
Shares of NASDAQ:IMMU traded up $1.00 during mid-day trading on Friday, reaching $16.72. The company had a trading volume of 2,486,564 shares, compared to its average volume of 2,090,475. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 0.06. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -16.23 and a beta of 2.06. The company’s 50-day moving average price is $14.22 and its 200-day moving average price is $15.23. Immunomedics, Inc. has a one year low of $11.55 and a one year high of $24.99.
Immunomedics (NASDAQ:IMMU) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.09). During the same quarter last year, the firm posted ($0.68) EPS. On average, research analysts anticipate that Immunomedics, Inc. will post -1.61 EPS for the current fiscal year.
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.
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