Jennison Associates LLC boosted its position in Immunomedics, Inc. (NASDAQ:IMMU) by 14.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,471,401 shares of the biopharmaceutical company’s stock after buying an additional 309,886 shares during the period. Jennison Associates LLC’s holdings in Immunomedics were worth $35,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP purchased a new position in shares of Immunomedics in the 2nd quarter worth approximately $2,037,000. FMR LLC grew its position in shares of Immunomedics by 9.0% in the 2nd quarter. FMR LLC now owns 8,494,182 shares of the biopharmaceutical company’s stock worth $201,057,000 after buying an additional 699,658 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Immunomedics in the 2nd quarter worth approximately $1,775,000. Bank of New York Mellon Corp grew its position in shares of Immunomedics by 17.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 705,730 shares of the biopharmaceutical company’s stock worth $16,705,000 after buying an additional 104,742 shares during the last quarter. Finally, Strs Ohio grew its position in Immunomedics by 15.3% during the 3rd quarter. Strs Ohio now owns 74,451 shares of the biopharmaceutical company’s stock worth $1,550,000 after purchasing an additional 9,900 shares during the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.
Several analysts have weighed in on IMMU shares. Jefferies Financial Group started coverage on shares of Immunomedics in a research report on Thursday, November 8th. They set a “buy” rating and a $30.00 target price on the stock. B. Riley started coverage on shares of Immunomedics in a research report on Tuesday, January 8th. They set a “buy” rating and a $55.00 target price on the stock. Piper Jaffray Companies reissued a “buy” rating on shares of Immunomedics in a research report on Thursday, December 20th. Cowen reissued a “buy” rating and set a $30.00 target price on shares of Immunomedics in a research report on Friday, December 7th. Finally, BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Immunomedics presently has a consensus rating of “Buy” and a consensus target price of $28.00.
IMMU stock opened at $14.36 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 13.45 and a current ratio of 13.45. Immunomedics, Inc. has a 12 month low of $11.55 and a 12 month high of $27.33.
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Immunomedics Company Profile
Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. Its advanced antibody-drug conjugates are sacituzumab govitecan and labetuzumab govitecan, which are in advanced trials for various solid tumors and metastatic colorectal cancer, respectively.
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