The Manufacturers Life Insurance Company Raises Holdings in Immunomedics, Inc. (IMMU)
The Manufacturers Life Insurance Company raised its position in Immunomedics, Inc. (NASDAQ:IMMU) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,520 shares of the biopharmaceutical company’s stock after buying an additional 1,763 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Immunomedics worth $702,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank raised its stake in shares of Immunomedics by 8.1% in the second quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 966 shares during the period. Stephens Inc. AR bought a new stake in shares of Immunomedics in the second quarter valued at $115,000. SG Americas Securities LLC raised its stake in shares of Immunomedics by 99.3% in the second quarter. SG Americas Securities LLC now owns 20,719 shares of the biopharmaceutical company’s stock valued at $183,000 after buying an additional 10,323 shares during the period. Bank of America Corp DE raised its stake in shares of Immunomedics by 38.8% in the first quarter. Bank of America Corp DE now owns 33,707 shares of the biopharmaceutical company’s stock valued at $218,000 after buying an additional 9,426 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Immunomedics by 7.4% in the second quarter. Legal & General Group Plc now owns 25,477 shares of the biopharmaceutical company’s stock valued at $222,000 after buying an additional 1,747 shares during the period. Hedge funds and other institutional investors own 61.41% of the company’s stock.
IMMU has been the topic of a number of analyst reports. Zacks Investment Research upgraded Immunomedics from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday, October 4th. Jefferies Group LLC set a $11.00 price objective on Immunomedics and gave the company a “buy” rating in a research note on Thursday, August 17th. Cowen and Company reiterated an “outperform” rating and set a $15.00 price objective on shares of Immunomedics in a research note on Monday, July 24th. Finally, BidaskClub lowered Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $15.33.
Shares of Immunomedics, Inc. (NASDAQ:IMMU) opened at $11.75 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of -0.29. Immunomedics, Inc. has a one year low of $2.92 and a one year high of $14.48.
Immunomedics (NASDAQ:IMMU) last released its quarterly earnings data on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). The company had revenue of $0.64 million during the quarter, compared to the consensus estimate of $0.75 million. During the same quarter last year, the firm posted ($0.17) EPS. The business’s revenue for the quarter was down 31.2% compared to the same quarter last year. sell-side analysts anticipate that Immunomedics, Inc. will post -1.16 earnings per share for the current year.
In related news, insider Behzad Aghazadeh acquired 1,325,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average cost of $10.47 per share, for a total transaction of $13,872,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Venbio Select Advisor Llc acquired 1,150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average price of $10.39 per share, for a total transaction of $11,948,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 100,000 shares of company stock worth $1,051,200. 6.60% of the stock is currently owned by corporate insiders.
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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