Immunomedics, Inc. (NASDAQ:IMMU) Director Venbio Select Advisor Llc purchased 1,150,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were bought at an average cost of $10.39 per share, with a total value of $11,948,500.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Immunomedics, Inc. (IMMU) traded down $0.30 during trading hours on Friday, hitting $11.70. The stock had a trading volume of 1,550,000 shares, compared to its average volume of 2,920,000. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of -0.29. Immunomedics, Inc. has a twelve month low of $2.92 and a twelve month high of $14.48.
Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings data on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.13). The firm had revenue of $0.64 million during the quarter, compared to analyst estimates of $0.75 million. The firm’s revenue for the quarter was down 31.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) earnings per share. research analysts anticipate that Immunomedics, Inc. will post -1.16 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Palo Alto Investors LLC purchased a new stake in shares of Immunomedics in the second quarter valued at $26,582,000. State Street Corp grew its position in shares of Immunomedics by 37.2% in the second quarter. State Street Corp now owns 4,818,847 shares of the biopharmaceutical company’s stock valued at $42,549,000 after purchasing an additional 1,305,298 shares during the period. Rhumbline Advisers boosted its holdings in Immunomedics by 11.1% in the second quarter. Rhumbline Advisers now owns 123,491 shares of the biopharmaceutical company’s stock valued at $1,090,000 after acquiring an additional 12,375 shares during the last quarter. TD Asset Management Inc. boosted its holdings in Immunomedics by 13.8% in the second quarter. TD Asset Management Inc. now owns 150,400 shares of the biopharmaceutical company’s stock valued at $1,328,000 after acquiring an additional 18,200 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Immunomedics by 117.6% in the second quarter. Goldman Sachs Group Inc. now owns 907,623 shares of the biopharmaceutical company’s stock valued at $8,015,000 after acquiring an additional 490,544 shares during the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.
IMMU has been the subject of several recent research reports. Zacks Investment Research downgraded Immunomedics from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Jefferies Group LLC raised their price target on Immunomedics from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, September 19th. BidaskClub downgraded Immunomedics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Cowen and Company reissued an “outperform” rating and set a $15.00 price target on shares of Immunomedics in a research report on Monday, July 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Immunomedics presently has an average rating of “Buy” and a consensus price target of $15.33.
Immunomedics Company Profile
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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