Highland Capital Management LP Sells 45,000 Shares of Immunomedics, Inc. (IMMU)

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Highland Capital Management LP trimmed its stake in shares of Immunomedics, Inc. (NASDAQ:IMMU) by 64.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the biopharmaceutical company’s stock after selling 45,000 shares during the quarter. Highland Capital Management LP’s holdings in Immunomedics were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IMMU. BlackRock Inc. boosted its holdings in shares of Immunomedics by 8.8% in the 4th quarter. BlackRock Inc. now owns 9,064,259 shares of the biopharmaceutical company’s stock worth $146,478,000 after acquiring an additional 736,608 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Immunomedics by 48.5% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 5,225,124 shares of the biopharmaceutical company’s stock worth $84,438,000 after acquiring an additional 1,705,624 shares in the last quarter. Palo Alto Investors LLC boosted its holdings in shares of Immunomedics by 58.6% in the 4th quarter. Palo Alto Investors LLC now owns 4,774,261 shares of the biopharmaceutical company’s stock worth $77,152,000 after acquiring an additional 1,763,795 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Immunomedics by 68.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,872,840 shares of the biopharmaceutical company’s stock worth $27,362,000 after acquiring an additional 762,648 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Immunomedics by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,256,143 shares of the biopharmaceutical company’s stock worth $18,353,000 after acquiring an additional 7,396 shares in the last quarter. 74.32% of the stock is currently owned by institutional investors.

In other news, Director Venbio Select Advisor Llc acquired 575,000 shares of Immunomedics stock in a transaction on Friday, June 15th. The shares were purchased at an average price of $24.00 per share, with a total value of $13,800,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 14.80% of the stock is currently owned by corporate insiders.

Immunomedics opened at $23.47 on Friday, Marketbeat reports. Immunomedics, Inc. has a 52-week low of $7.17 and a 52-week high of $26.48. The company has a debt-to-equity ratio of 2.81, a quick ratio of 3.94 and a current ratio of 3.94.

Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings data on Wednesday, May 9th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.06). The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $4.27 million. The business’s quarterly revenue was down 61.5% on a year-over-year basis. equities research analysts expect that Immunomedics, Inc. will post -1.14 earnings per share for the current fiscal year.

Several brokerages have recently commented on IMMU. B. Riley began coverage on Immunomedics in a report on Thursday, June 7th. They issued a “buy” rating and a $53.00 target price on the stock. ValuEngine downgraded Immunomedics from a “strong-buy” rating to a “buy” rating in a report on Monday, June 11th. Wells Fargo & Co boosted their target price on Immunomedics from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, June 4th. BidaskClub raised Immunomedics from a “buy” rating to a “strong-buy” rating in a report on Friday, May 25th. Finally, Zacks Investment Research raised Immunomedics from a “sell” rating to a “hold” rating in a report on Wednesday, May 16th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.20.

About Immunomedics

Immunomedics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders, and other diseases. The company engages in developing antibody-drug conjugate (ADC) products comprising IMMU-132, an ADC that contains SN-38, which is in Phase II trials used for the treatment of patients with metastatic triple-negative breast cancer, and small-cell and non-small-cell lung cancers; IMMU-130, an anti-CEACAN5-SN-38 ADC that is in Phase II trials for the treatment of solid tumors and metastatic colorectal cancer; and IMMU-140 that targets HLA-DR for the potential treatment of liquid cancers.

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Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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