Point72 Asset Management L.P. raised its stake in Immunomedics, Inc. (NASDAQ:IMMU) by 7.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 449,220 shares of the biopharmaceutical company’s stock after buying an additional 32,688 shares during the quarter. Point72 Asset Management L.P. owned 0.27% of Immunomedics worth $6,563,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Palo Alto Investors LLC increased its stake in shares of Immunomedics by 58.6% during the 4th quarter. Palo Alto Investors LLC now owns 4,774,261 shares of the biopharmaceutical company’s stock worth $77,152,000 after purchasing an additional 1,763,795 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in shares of Immunomedics by 48.5% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 5,225,124 shares of the biopharmaceutical company’s stock worth $84,438,000 after purchasing an additional 1,705,624 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Immunomedics during the 4th quarter worth $12,537,000. Victory Capital Management Inc. increased its stake in shares of Immunomedics by 68.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,872,840 shares of the biopharmaceutical company’s stock worth $27,362,000 after purchasing an additional 762,648 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Immunomedics by 8.8% during the 4th quarter. BlackRock Inc. now owns 9,064,259 shares of the biopharmaceutical company’s stock worth $146,478,000 after purchasing an additional 736,608 shares during the last quarter. Hedge funds and other institutional investors own 74.32% of the company’s stock.
Immunomedics opened at $24.34 on Wednesday, according to Marketbeat.com. The firm has a market cap of $4.03 billion, a P/E ratio of -30.05 and a beta of 1.51. Immunomedics, Inc. has a 1 year low of $7.17 and a 1 year high of $26.48. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 2.81.
In related news, Director Venbio Select Advisor Llc acquired 575,000 shares of Immunomedics stock in a transaction on Friday, June 15th. The stock was acquired at an average price of $24.00 per share, for a total transaction of $13,800,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 14.80% of the company’s stock.
Several research analysts have recently commented on IMMU shares. ValuEngine upgraded shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. B. Riley started coverage on shares of Immunomedics in a research note on Thursday, June 7th. They set a “buy” rating and a $53.00 price target on the stock. BidaskClub lowered shares of Immunomedics from a “buy” rating to a “hold” rating in a research note on Saturday, March 17th. Zacks Investment Research lowered shares of Immunomedics from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. Finally, Wells Fargo & Co increased their price target on shares of Immunomedics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, June 4th. One research 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 has a consensus rating of “Buy” and a consensus target price of $28.20.
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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