PNC Financial Services Group Inc. decreased its stake in shares of Immunomedics, Inc. (NASDAQ:IMMU) by 23.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,583 shares of the biopharmaceutical company’s stock after selling 1,367 shares during the period. PNC Financial Services Group Inc.’s holdings in Immunomedics were worth $65,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of IMMU. Exane Derivatives bought a new stake in Immunomedics during the 4th quarter worth approximately $32,000. North Star Investment Management Corp. bought a new stake in Immunomedics during the 4th quarter worth approximately $50,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Immunomedics by 16.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,151 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 1,140 shares in the last quarter. Union Bankshares Corp bought a new stake in Immunomedics during the 4th quarter worth approximately $143,000. Finally, Exencial Wealth Advisors LLC bought a new stake in Immunomedics during the 4th quarter worth approximately $217,000. Institutional investors and hedge funds own 85.22% of the company’s stock.
A number of analysts recently issued reports on IMMU shares. Jefferies Financial Group set a $30.00 target price on Immunomedics and gave the stock a “buy” rating in a research note on Sunday, December 23rd. B. Riley initiated coverage on Immunomedics in a research note on Tuesday, January 8th. They set a “buy” rating and a $55.00 target price for the company. Zacks Investment Research raised Immunomedics from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. BidaskClub raised Immunomedics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. Finally, Wells Fargo & Co downgraded Immunomedics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $44.00 to $18.00 in a research report on Friday, January 18th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.45.
Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings results on Monday, February 25th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.16). As a group, sell-side analysts predict that Immunomedics, Inc. will post -1.38 EPS for the current fiscal year.
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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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