Frontier Capital Management Co. LLC Takes Position in Immunomedics, Inc. (IMMU)

Frontier Capital Management Co. LLC purchased a new stake in shares of Immunomedics, Inc. (NASDAQ:IMMU) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,085,854 shares of the biopharmaceutical company’s stock, valued at approximately $20,859,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IMMU. Dimensional Fund Advisors LP increased its holdings in Immunomedics by 131.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 199,337 shares of the biopharmaceutical company’s stock worth $4,152,000 after buying an additional 113,240 shares during the period. Legal & General Group Plc grew its stake in shares of Immunomedics by 2.3% during the 3rd quarter. Legal & General Group Plc now owns 48,707 shares of the biopharmaceutical company’s stock worth $1,014,000 after purchasing an additional 1,082 shares during the period. Virtu Financial LLC acquired a new stake in shares of Immunomedics during the 4th quarter worth approximately $257,000. Strs Ohio grew its stake in shares of Immunomedics by 3.0% during the 4th quarter. Strs Ohio now owns 76,651 shares of the biopharmaceutical company’s stock worth $1,093,000 after purchasing an additional 2,200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of 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 during the period. 86.11% of the stock is owned by hedge funds and other institutional investors.

In other Immunomedics news, Director Avoro Capital Advisors Llc bought 500,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $15.07 per share, for a total transaction of $7,535,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 14.80% of the company’s stock.

A number of brokerages have recently commented on IMMU. HC Wainwright set a $28.00 price objective on shares of Immunomedics and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Zacks Investment Research raised shares of Immunomedics from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, April 12th. BidaskClub cut shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Piper Jaffray Companies set a $20.00 price objective on shares of Immunomedics and gave the stock a “buy” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.45.

Shares of NASDAQ IMMU opened at $15.61 on Friday. Immunomedics, Inc. has a 12 month low of $11.55 and a 12 month high of $27.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.89 and a quick ratio of 7.89.

Immunomedics (NASDAQ:IMMU) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.10). During the same quarter in the previous year, the firm posted ($0.21) earnings per share. As a group, research analysts forecast that Immunomedics, Inc. will post -1.63 earnings per share 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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Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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