Goldman Sachs Group Inc. raised its stake in shares of Immunomedics, Inc. (NASDAQ:IMMU) by 177.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 417,079 shares of the biopharmaceutical company’s stock after buying an additional 266,953 shares during the period. Goldman Sachs Group Inc. owned 0.38% of Immunomedics worth $2,699,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of IMMU. Parametric Portfolio Associates LLC boosted its position in shares of Immunomedics by 49.6% in the first quarter. Parametric Portfolio Associates LLC now owns 167,077 shares of the biopharmaceutical company’s stock valued at $1,081,000 after buying an additional 55,392 shares in the last quarter. TD Asset Management Inc. bought a new stake in shares of Immunomedics during the first quarter valued at approximately $855,000. UBS Asset Management Americas Inc. raised its stake in shares of Immunomedics by 361.2% in the first quarter. UBS Asset Management Americas Inc. now owns 67,301 shares of the biopharmaceutical company’s stock valued at $435,000 after buying an additional 52,709 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Immunomedics by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 464,215 shares of the biopharmaceutical company’s stock valued at $3,003,000 after buying an additional 23,518 shares in the last quarter. Finally, Chicago Equity Partners LLC raised its stake in shares of Immunomedics by 54.1% in the first quarter. Chicago Equity Partners LLC now owns 363,755 shares of the biopharmaceutical company’s stock valued at $2,353,000 after buying an additional 127,700 shares in the last quarter. 63.39% of the stock is owned by institutional investors.
Shares of Immunomedics, Inc. (NASDAQ IMMU) opened at 8.42 on Friday. The company’s 50-day moving average is $8.50 and its 200-day moving average is $6.91. Immunomedics, Inc. has a 12-month low of $2.02 and a 12-month high of $9.51. The stock’s market cap is $936.97 million.
Immunomedics (NASDAQ:IMMU) last released its earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by $0.13. The firm had revenue of $0.64 million during the quarter, compared to the consensus estimate of $0.75 million. The business’s quarterly revenue was down 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, analysts expect that Immunomedics, Inc. will post ($0.56) earnings per share for the current fiscal year.
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Several brokerages have issued reports on IMMU. Jefferies Group LLC set a $11.00 price objective on shares of Immunomedics and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Immunomedics from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub downgraded shares of Immunomedics from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Cowen and Company reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Immunomedics in a report on Monday, July 24th. Finally, ValuEngine raised shares of Immunomedics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price 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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