HighTower Advisors LLC raised its position in Immunomedics, Inc. (NASDAQ:IMMU) by 13.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,115 shares of the biopharmaceutical company’s stock after buying an additional 7,050 shares during the period. HighTower Advisors LLC owned 0.05% of Immunomedics worth $375,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC purchased a new stake in shares of Immunomedics during the first quarter worth about $137,000. Bank of America Corp DE increased its stake in shares of Immunomedics by 38.8% in the first quarter. Bank of America Corp DE now owns 33,707 shares of the biopharmaceutical company’s stock worth $218,000 after buying an additional 9,426 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Immunomedics during the fourth quarter worth about $229,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Immunomedics by 3.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 66,049 shares of the biopharmaceutical company’s stock worth $242,000 after buying an additional 2,384 shares in the last quarter. Finally, Knott David M purchased a new stake in shares of Immunomedics during the first quarter worth about $294,000. 62.10% of the stock is currently owned by institutional investors and hedge funds.
Immunomedics, Inc. (NASDAQ:IMMU) traded up 0.78% during mid-day trading on Friday, reaching $7.80. 1,972,298 shares of the company traded hands. Immunomedics, Inc. has a 52-week low of $2.02 and a 52-week high of $9.51. The stock has a 50-day moving average of $8.59 and a 200 day moving average of $6.79. The stock’s market capitalization is $854.91 million.
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A number of analysts have recently issued reports on the stock. Jefferies Group LLC set a $9.00 price target on shares of Immunomedics and gave the stock a “buy” rating in a report on Saturday, May 6th. Zacks Investment Research downgraded shares of Immunomedics from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub downgraded shares of Immunomedics from a “buy” rating to a “hold” rating in a report on Friday, August 4th. ValuEngine upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Cowen and Company started coverage on shares of Immunomedics in a report on Friday, May 26th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $12.00.
Immunomedics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Its geographic segments include United States and Europe. Its technologies allow it to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
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