Xact Kapitalforvaltning AB Buys Shares of 11,918 Immunomedics (IMMU)

Xact Kapitalforvaltning AB bought a new position in Immunomedics (NASDAQ:IMMU) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,918 shares of the biopharmaceutical company’s stock, valued at approximately $193,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IMMU. Palo Alto Investors LLC grew its position in Immunomedics by 58.6% in the 4th quarter. Palo Alto Investors LLC now owns 4,774,261 shares of the biopharmaceutical company’s stock worth $77,152,000 after purchasing an additional 1,763,795 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its position in Immunomedics by 48.5% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 5,225,124 shares of the biopharmaceutical company’s stock worth $84,438,000 after purchasing an additional 1,705,624 shares during the last quarter. Victory Capital Management Inc. bought a new position in Immunomedics in the 4th quarter worth about $17,941,000. Franklin Resources Inc. bought a new position in Immunomedics in the 4th quarter worth about $12,537,000. Finally, BlackRock Inc. grew its position in Immunomedics by 8.8% in the 4th quarter. BlackRock Inc. now owns 9,064,259 shares of the biopharmaceutical company’s stock worth $146,478,000 after purchasing an additional 736,608 shares during the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.

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In related news, Director David M. Goldenberg sold 40,000 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $17.24, for a total transaction of $689,600.00. Following the completion of the sale, the director now directly owns 1,774,285 shares of the company’s stock, valued at $30,588,673.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David M. Goldenberg sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $17.50, for a total transaction of $350,000.00. Following the sale, the director now directly owns 1,774,285 shares of the company’s stock, valued at $31,049,987.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,729 shares of company stock valued at $1,342,589. Company insiders own 14.80% of the company’s stock.

A number of analysts have recently weighed in on IMMU shares. Jefferies Group upped their price target on shares of Immunomedics from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. BidaskClub raised shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Zacks Investment Research lowered shares of Immunomedics from a “hold” rating to a “sell” rating in a research note on Saturday, February 17th. TheStreet raised shares of Immunomedics from a “d” rating to a “c-” rating in a research note on Friday, February 9th. Finally, ValuEngine raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Immunomedics has an average rating of “Buy” and an average price target of $19.00.

Shares of NASDAQ:IMMU opened at $16.70 on Friday. The company has a market capitalization of $2,791.63, a PE ratio of -20.62 and a beta of 1.62. Immunomedics has a twelve month low of $5.00 and a twelve month high of $18.93. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.20.

Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings results on Thursday, February 8th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.09). The firm had revenue of $0.60 million for the quarter, compared to the consensus estimate of $0.90 million. equities analysts forecast that Immunomedics will post -0.96 earnings per share for the current year.

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Immunomedics Company 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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