Insider Buying: Immunomedics, Inc. (IMMU) Director Purchases 500,000 Shares of Stock
Immunomedics, Inc. (NASDAQ:IMMU) Director Avoro Capital Advisors Llc bought 500,000 shares of the stock in a transaction on Monday, May 13th. The stock was purchased at an average cost of $15.07 per share, with a total value of $7,535,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Avoro Capital Advisors Llc also recently made the following trade(s):
- On Wednesday, May 15th, Avoro Capital Advisors Llc bought 750,000 shares of Immunomedics stock. The stock was purchased at an average cost of $15.11 per share, with a total value of $11,332,500.00.
Shares of Immunomedics stock traded down $0.48 on Wednesday, hitting $14.93. The company had a trading volume of 2,055,043 shares, compared to its average volume of 3,111,805. The stock has a market capitalization of $2.95 billion, a PE ratio of -14.50 and a beta of 1.97. Immunomedics, Inc. has a twelve month low of $11.55 and a twelve month high of $27.33. The company has a quick ratio of 7.89, a current ratio of 7.89 and a debt-to-equity ratio of 0.04.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Exane Derivatives acquired a new position in Immunomedics during the fourth quarter worth $32,000. Karp Capital Management Corp acquired a new position in Immunomedics during the fourth quarter worth $33,000. Global Retirement Partners LLC boosted its holdings in Immunomedics by 215.7% during the first quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,305 shares during the last quarter. Cornerstone Advisors Inc. acquired a new position in Immunomedics during the first quarter worth $40,000. Finally, Pearl River Capital LLC acquired a new position in Immunomedics during the fourth quarter worth $66,000. Institutional investors and hedge funds own 86.11% of the company’s stock.
Several brokerages have commented on IMMU. Zacks Investment Research downgraded shares of Immunomedics from a “hold” rating to a “sell” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Immunomedics in a report on Monday. BidaskClub cut shares of Immunomedics from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. ValuEngine cut shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, Piper Jaffray Companies set a $20.00 price target on shares of Immunomedics and gave the company a “buy” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $28.45.
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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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