Rock Springs Capital Management LP acquired a new position in shares of Immunomedics, Inc. (NASDAQ:IMMU) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 450,000 shares of the biopharmaceutical company’s stock, valued at approximately $6,575,000. Rock Springs Capital Management LP owned approximately 0.27% of Immunomedics as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IMMU. Calton & Associates Inc. purchased a new position in shares of Immunomedics during the 4th quarter valued at $135,000. Quantitative Systematic Strategies LLC acquired a new position in Immunomedics in the first quarter valued at approximately $180,000. Xact Kapitalforvaltning AB acquired a new position in Immunomedics in the fourth quarter valued at approximately $193,000. Sapphire Star Partners LP acquired a new position in Immunomedics in the fourth quarter valued at approximately $323,000. Finally, Shaker Investments LLC OH acquired a new position in Immunomedics in the first quarter valued at approximately $386,000. Hedge funds and other institutional investors own 74.32% of the company’s stock.
Shares of NASDAQ IMMU traded down $0.13 during trading on Tuesday, hitting $23.96. The company had a trading volume of 82,916 shares, compared to its average volume of 3,259,114. 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. The stock has a market capitalization of $3.93 billion, a P/E ratio of -29.72 and a beta of 1.51.
In other news, Director Venbio Select Advisor Llc acquired 575,000 shares of the stock in a transaction on Friday, June 15th. The shares were purchased at an average cost of $24.00 per share, for a total transaction of $13,800,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 14.80% of the company’s stock.
A number of research analysts have recently commented on the stock. B. Riley assumed coverage on shares of Immunomedics in a research report on Thursday, June 7th. They issued a “buy” rating and a $53.00 price objective for the company. ValuEngine cut 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 given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $28.20.
Immunomedics Company Profile
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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