United Services Automobile Association Increases Stake in Immunomedics, Inc. (IMMU)

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United Services Automobile Association grew its stake in shares of Immunomedics, Inc. (NASDAQ:IMMU) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 154,247 shares of the biopharmaceutical company’s stock after buying an additional 2,745 shares during the quarter. United Services Automobile Association’s holdings in Immunomedics were worth $3,213,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IMMU. Alps Advisors Inc. lifted its position in Immunomedics by 8.8% in the second quarter. Alps Advisors Inc. now owns 241,871 shares of the biopharmaceutical company’s stock valued at $5,725,000 after purchasing an additional 19,518 shares during the last quarter. State of Wisconsin Investment Board lifted its position in Immunomedics by 30.5% in the second quarter. State of Wisconsin Investment Board now owns 134,200 shares of the biopharmaceutical company’s stock valued at $3,177,000 after purchasing an additional 31,400 shares during the last quarter. Sei Investments Co. lifted its position in Immunomedics by 1,191.4% in the second quarter. Sei Investments Co. now owns 56,551 shares of the biopharmaceutical company’s stock valued at $1,339,000 after purchasing an additional 52,172 shares during the last quarter. Rhumbline Advisers lifted its position in Immunomedics by 26.6% in the second quarter. Rhumbline Advisers now owns 133,069 shares of the biopharmaceutical company’s stock valued at $3,150,000 after purchasing an additional 27,998 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Immunomedics by 17.4% in the second quarter. Bank of New York Mellon Corp now owns 705,730 shares of the biopharmaceutical company’s stock valued at $16,705,000 after purchasing an additional 104,742 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Shares of Immunomedics stock opened at $18.02 on Wednesday. The company has a quick ratio of 13.45, a current ratio of 13.45 and a debt-to-equity ratio of 0.06. The company has a market cap of $3.40 billion, a P/E ratio of -17.50 and a beta of 1.87. Immunomedics, Inc. has a 52 week low of $12.79 and a 52 week high of $27.33.

Immunomedics (NASDAQ:IMMU) last announced its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). Immunomedics had a negative net margin of 12,701.21% and a negative return on equity of 85.57%. During the same period in the prior year, the company posted ($0.97) EPS. On average, equities analysts predict that Immunomedics, Inc. will post -1.2 earnings per share for the current fiscal year.

Several analysts have weighed in on the company. Cowen reiterated a “buy” rating and issued a $30.00 price objective on shares of Immunomedics in a research report on Friday, December 7th. BidaskClub upgraded Immunomedics from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. Zacks Investment Research downgraded Immunomedics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. Jefferies Financial Group assumed coverage on Immunomedics in a research report on Thursday, November 8th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Morgan Stanley assumed coverage on Immunomedics in a research report on Monday, November 5th. They issued an “overweight” rating and a $38.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $37.38.

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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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Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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