Point72 Asset Management L.P. Acquires 380,516 Shares of Immunomedics, Inc. (IMMU)
Point72 Asset Management L.P. grew its holdings in Immunomedics, Inc. (NASDAQ:IMMU) by 84.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 829,736 shares of the biopharmaceutical company’s stock after buying an additional 380,516 shares during the quarter. Point72 Asset Management L.P.’s holdings in Immunomedics were worth $19,640,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of IMMU. Wells Fargo & Company MN raised its holdings in shares of Immunomedics by 4.8% in the 1st quarter. Wells Fargo & Company MN now owns 407,495 shares of the biopharmaceutical company’s stock valued at $5,954,000 after purchasing an additional 18,558 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Immunomedics in the 1st quarter worth approximately $1,702,000. Mackay Shields LLC purchased a new position in shares of Immunomedics in the 1st quarter worth approximately $614,000. Victory Capital Management Inc. grew its position in shares of Immunomedics by 68.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,872,840 shares of the biopharmaceutical company’s stock worth $27,362,000 after buying an additional 762,648 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Immunomedics in the 1st quarter worth approximately $7,995,000. Institutional investors and hedge funds own 78.46% of the company’s stock.
A number of research analysts have recently issued reports on the stock. BidaskClub raised shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 25th. B. Riley assumed coverage on shares of Immunomedics in a research report on Thursday, June 7th. They issued a “buy” rating and a $53.00 price objective on the stock. Wells Fargo & Co lifted their price objective on shares of Immunomedics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, June 4th. ValuEngine raised shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 2nd. Finally, Zacks Investment Research raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $32.00.
Immunomedics (NASDAQ:IMMU) last released its earnings results on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.46). The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $4.27 million. Immunomedics had a negative return on equity of 124.54% and a negative net margin of 12,701.21%. The firm’s revenue for the quarter was down 33.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.48) EPS. equities research analysts expect that Immunomedics, Inc. will post -1.09 earnings per share for the current fiscal year.
Immunomedics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders, and other diseases. The company engages in developing antibody-drug conjugate (ADC) products comprising IMMU-132, an ADC that contains SN-38, which is in Phase II trials used for the treatment of patients with metastatic triple-negative breast cancer, and small-cell and non-small-cell lung cancers; IMMU-130, an anti-CEACAN5-SN-38 ADC that is in Phase II trials for the treatment of solid tumors and metastatic colorectal cancer; and IMMU-140 that targets HLA-DR for the potential treatment of liquid cancers.
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