Quantitative Systematic Strategies LLC acquired a new position in shares of Immunomedics Inc. (NASDAQ:IMMU) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 217,000 shares of the biopharmaceutical company’s stock, valued at approximately $497,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in IMMU. Sabby Management LLC bought a new position in shares of Immunomedics during the first quarter worth about $182,240,000. venBio Select Advisor LLC bought a new position in shares of Immunomedics during the first quarter worth about $2,626,000. Opaleye Management Inc. boosted its position in shares of Immunomedics by 356.9% in the first quarter. Opaleye Management Inc. now owns 1,325,000 shares of the biopharmaceutical company’s stock worth $3,313,000 after buying an additional 1,035,000 shares during the period. Creative Planning boosted its position in shares of Immunomedics by 0.9% in the second quarter. Creative Planning now owns 58,485 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 510 shares during the period. Finally, Candriam Luxembourg S.C.A. bought a new position in shares of Immunomedics during the second quarter worth about $429,000. 53.79% of the stock is currently owned by hedge funds and other institutional investors.
Immunomedics Inc. (NASDAQ:IMMU) traded down 4.58% during mid-day trading on Friday, hitting $2.29. The company had a trading volume of 1,419,005 shares. Immunomedics Inc. has a 1-year low of $1.61 and a 1-year high of $5.44. The stock has a 50 day moving average price of $2.93 and a 200-day moving average price of $3.03. The stock’s market capitalization is $219.53 million.
Immunomedics (NASDAQ:IMMU) last issued its earnings results on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by $0.06. On average, analysts forecast that Immunomedics Inc. will post ($0.47) earnings per share for the current year.
IMMU has been the topic of a number of recent research reports. Wells Fargo & Co. cut Immunomedics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 21st. Zacks Investment Research raised Immunomedics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, Jefferies Group initiated coverage on Immunomedics in a research note on Thursday, October 6th. They set a “buy” rating and a $5.50 price objective on the stock.
In other Immunomedics news, Director Mary E. Paetzold sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $2.98, for a total value of $44,700.00. Following the sale, the director now owns 82,474 shares in the company, valued at approximately $245,772.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Don C. Stark sold 9,900 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $2.97, for a total transaction of $29,403.00. Following the completion of the sale, the director now owns 55,848 shares in the company, valued at approximately $165,868.56. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by company insiders.
Immunomedics Company Profile
Immunomedics, Inc is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. The Company’s technologies allow it to create humanized antibodies in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
Want to see what other hedge funds are holding IMMU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Immunomedics Inc. (NASDAQ:IMMU).
Receive News & Ratings for Immunomedics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immunomedics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.