Employees Retirement System of Texas purchased a new stake in Immunomedics, Inc. (NASDAQ:IMMU) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,539,000.
A number of other institutional investors also recently modified their holdings of IMMU. BlackRock Inc. boosted its holdings in Immunomedics by 24.3% in the 2nd quarter. BlackRock Inc. now owns 11,228,828 shares of the biopharmaceutical company’s stock valued at $265,786,000 after purchasing an additional 2,195,066 shares during the period. American Century Companies Inc. bought a new stake in Immunomedics in the 2nd quarter valued at $36,571,000. Janus Henderson Group PLC boosted its holdings in Immunomedics by 66.4% in the 2nd quarter. Janus Henderson Group PLC now owns 3,217,759 shares of the biopharmaceutical company’s stock valued at $76,164,000 after purchasing an additional 1,284,303 shares during the period. Victory Capital Management Inc. boosted its holdings in Immunomedics by 68.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,872,840 shares of the biopharmaceutical company’s stock valued at $27,362,000 after purchasing an additional 762,648 shares during the period. Finally, FMR LLC boosted its holdings in Immunomedics by 9.0% in the 2nd quarter. FMR LLC now owns 8,494,182 shares of the biopharmaceutical company’s stock valued at $201,057,000 after purchasing an additional 699,658 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.
In other Immunomedics news, Director Venbio Select Advisor Llc acquired 575,000 shares of the company’s stock in a transaction dated Friday, June 15th. The stock was bought at an average price of $24.00 per share, for a total transaction of $13,800,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 14.80% of the company’s stock.
A number of analysts have weighed in on IMMU shares. Zacks Investment Research raised shares of Immunomedics from a “sell” rating to a “hold” rating in a report on Wednesday, May 16th. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a report on Friday, May 18th. Wells Fargo & Co increased their price target on shares of Immunomedics from $25.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, June 4th. B. Riley started coverage on shares of Immunomedics in a report on Thursday, June 7th. They issued a “buy” rating and a $53.00 price target for the company. Finally, ValuEngine downgraded shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a report on Monday, June 11th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Immunomedics has a consensus rating of “Buy” and a consensus target price of $32.00.
Shares of IMMU stock opened at $24.78 on Friday. Immunomedics, Inc. has a 52-week low of $8.68 and a 52-week high of $27.33. The firm has a market capitalization of $5.00 billion, a PE ratio of -24.06 and a beta of 1.79. The company has a quick ratio of 14.83, a current ratio of 14.83 and a debt-to-equity ratio of 0.05.
Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings data on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). Immunomedics had a negative net margin of 12,701.21% and a negative return on equity of 124.54%. The business had revenue of $0.40 million during the quarter, compared to analyst estimates of $4.27 million. During the same quarter in the prior year, the company posted ($0.48) EPS. The company’s quarterly revenue was down 33.3% compared to the same quarter last year. equities research analysts forecast that Immunomedics, Inc. will post -1.09 earnings per share for the current year.
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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