Immunomedics, Inc. (IMMU) Stake Raised by Geode Capital Management LLC
Geode Capital Management LLC raised its position in Immunomedics, Inc. (NASDAQ:IMMU) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 803,725 shares of the biopharmaceutical company’s stock after buying an additional 97,640 shares during the period. Geode Capital Management LLC’s holdings in Immunomedics were worth $5,200,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. Knott David M acquired a new stake in shares of Immunomedics during the first quarter worth about $294,000. EAM Investors LLC acquired a new stake in shares of Immunomedics during the first quarter worth about $887,000. Creative Planning increased its stake in shares of Immunomedics by 163.3% in the first quarter. Creative Planning now owns 176,065 shares of the biopharmaceutical company’s stock worth $1,139,000 after buying an additional 109,200 shares during the period. Candriam Luxembourg S.C.A. acquired a new stake in shares of Immunomedics during the first quarter worth about $3,300,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Immunomedics by 3.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 66,049 shares of the biopharmaceutical company’s stock worth $242,000 after buying an additional 2,384 shares during the period. Institutional investors own 62.10% of the company’s stock.
Shares of Immunomedics, Inc. (NASDAQ IMMU) traded up 0.78% during midday trading on Friday, hitting $7.80. The company had a trading volume of 1,972,298 shares. The firm’s market capitalization is $854.91 million. Immunomedics, Inc. has a 1-year low of $2.02 and a 1-year high of $9.51. The stock has a 50 day moving average price of $8.59 and a 200 day moving average price of $6.79.
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IMMU has been the topic of a number of recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Immunomedics in a research report on Friday, July 14th. Zacks Investment Research downgraded Immunomedics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Wells Fargo & Company upgraded Immunomedics from a “market perform” rating to an “outperform” rating in a research report on Friday, May 5th. ValuEngine upgraded Immunomedics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Cowen and Company initiated coverage on Immunomedics in a research report on Friday, May 26th. They issued an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $12.00.
Immunomedics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Its geographic segments include United States and Europe. Its technologies allow it to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
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