Immunomedics, Inc. (IMMU) is Palo Alto Investors LP’s 10th Largest Position

Palo Alto Investors LP boosted its holdings in Immunomedics, Inc. (NASDAQ:IMMU) by 0.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,796,008 shares of the biopharmaceutical company’s stock after purchasing an additional 21,747 shares during the quarter. Immunomedics accounts for approximately 3.0% of Palo Alto Investors LP’s investment portfolio, making the stock its 10th largest holding. Palo Alto Investors LP’s holdings in Immunomedics were worth $70,070,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of IMMU. Schwab Charles Investment Management Inc. raised its holdings in Immunomedics by 10.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 517,259 shares of the biopharmaceutical company’s stock valued at $8,359,000 after buying an additional 48,879 shares during the period. Teacher Retirement System of Texas purchased a new position in Immunomedics in the fourth quarter valued at approximately $524,000. California Public Employees Retirement System raised its holdings in Immunomedics by 14.1% in the fourth quarter. California Public Employees Retirement System now owns 176,417 shares of the biopharmaceutical company’s stock valued at $2,851,000 after buying an additional 21,770 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in Immunomedics by 12.2% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 555,000 shares of the biopharmaceutical company’s stock valued at $8,969,000 after buying an additional 60,500 shares during the period. Finally, First Trust Advisors LP purchased a new position in Immunomedics in the fourth quarter valued at approximately $2,248,000. Hedge funds and other institutional investors own 74.32% of the company’s stock.

IMMU stock opened at $24.33 on Thursday. Immunomedics, Inc. has a twelve month low of $7.17 and a twelve month high of $26.48. The company has a debt-to-equity ratio of 2.81, a current ratio of 3.94 and a quick ratio of 3.94. The company has a market cap of $3.99 billion, a PE ratio of -30.04 and a beta of 1.51.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). The firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $4.27 million. Immunomedics’s quarterly revenue was down 61.5% on a year-over-year basis. analysts anticipate that Immunomedics, Inc. will post -1.14 EPS for the current year.

A number of analysts have recently issued reports on IMMU shares. 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 objective on the stock. ValuEngine lowered shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Monday. Wells Fargo & Co lifted their price objective on shares of Immunomedics from $25.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, June 4th. BidaskClub upgraded shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 25th. Finally, Zacks Investment Research upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 16th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $28.20.

Immunomedics 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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Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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