Immunomedics Inc. (IMMU) Position Decreased by California State Teachers Retirement System
California State Teachers Retirement System cut its stake in shares of Immunomedics Inc. (NASDAQ:IMMU) by 11.3% during the second quarter, Holdings Channel reports. The fund owned 182,989 shares of the biopharmaceutical company’s stock after selling 23,250 shares during the period. California State Teachers Retirement System owned approximately 0.19% of Immunomedics worth $425,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of IMMU. Creative Planning raised its position in shares of Immunomedics by 0.9% in the second quarter. Creative Planning now owns 58,485 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 510 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in Immunomedics during the second quarter valued at $258,000. Candriam Luxembourg S.C.A. purchased a new stake in Immunomedics during the second quarter valued at $429,000. Quantitative Systematic Strategies LLC purchased a new stake in Immunomedics during the second quarter valued at $497,000. Finally, Bank of New York Mellon Corp increased its stake in Immunomedics by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 431,506 shares of the biopharmaceutical company’s stock valued at $1,001,000 after buying an additional 10,105 shares during the period. Institutional investors own 53.79% of the company’s stock.
Shares of Immunomedics Inc. (NASDAQ:IMMU) traded down 2.80% on Thursday, reaching $2.43. The company’s stock had a trading volume of 619,454 shares. The firm’s market cap is $232.95 million. Immunomedics Inc. has a 12 month low of $1.61 and a 12 month high of $5.44. The stock has a 50 day moving average of $2.94 and a 200-day moving average of $3.03.
Immunomedics (NASDAQ:IMMU) last posted its earnings results on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.06. On average, analysts anticipate that Immunomedics Inc. will post ($0.47) EPS for the current year.
Several research firms recently weighed in on IMMU. Zacks Investment Research raised Immunomedics from a “strong sell” rating to a “hold” rating and set a $2.75 price objective on the stock in a report on Friday, October 7th. Jefferies Group began coverage on Immunomedics in a report on Thursday, October 6th. They set a “buy” rating and a $5.50 price objective on the stock. Finally, Wells Fargo & Co. downgraded Immunomedics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 21st.
In other news, Director Mary E. Paetzold sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $2.98, for a total value of $44,700.00. Following the transaction, the director now owns 82,474 shares of the company’s stock, valued at $245,772.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Don C. Stark sold 9,900 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $2.97, for a total transaction of $29,403.00. Following the completion of the transaction, the director now directly owns 55,848 shares in the company, valued at approximately $165,868.56. The disclosure for this sale can be found here. Company insiders own 8.80% of the company’s stock.
Immunomedics, Inc is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. The Company’s technologies allow it to create humanized antibodies in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
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