Goldman Sachs Group Inc. lifted its stake in Immunomedics, Inc. (NASDAQ:IMMU) by 117.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 907,623 shares of the biopharmaceutical company’s stock after buying an additional 490,544 shares during the period. Goldman Sachs Group Inc. owned about 0.82% of Immunomedics worth $8,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Geneva Advisors LLC raised its holdings in shares of Immunomedics by 0.6% in the 2nd quarter. Geneva Advisors LLC now owns 31,635 shares of the biopharmaceutical company’s stock worth $279,000 after buying an additional 200 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Immunomedics by 8.1% in the 2nd quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 966 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Immunomedics by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 25,477 shares of the biopharmaceutical company’s stock worth $222,000 after buying an additional 1,747 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Immunomedics by 5.9% in the 2nd quarter. Voya Investment Management LLC now owns 50,433 shares of the biopharmaceutical company’s stock worth $445,000 after buying an additional 2,808 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Immunomedics by 1.7% in the 2nd quarter. Creative Planning now owns 179,130 shares of the biopharmaceutical company’s stock worth $1,582,000 after buying an additional 3,065 shares in the last quarter. 57.36% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on IMMU. Zacks Investment Research cut Immunomedics from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Jefferies Group LLC increased their price target on Immunomedics from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, September 19th. BidaskClub upgraded Immunomedics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Cowen and Company restated an “outperform” rating and set a $15.00 price target on shares of Immunomedics in a research report on Monday, July 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $15.33.

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In other Immunomedics news, insider David M. Goldenberg sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $12.64, for a total transaction of $252,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia L. Goldenberg sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $10.72, for a total transaction of $428,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,000 shares of company stock valued at $1,051,200. Company insiders own 6.60% of the company’s stock.

Shares of Immunomedics, Inc. (IMMU) opened at 11.00 on Friday. The company’s 50-day moving average price is $12.04 and its 200-day moving average price is $8.88. The company’s market capitalization is $1.22 billion. Immunomedics, Inc. has a 52-week low of $2.02 and a 52-week high of $14.48.

Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings data on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.13). The business had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.75 million. During the same period in the prior year, the company posted ($0.17) EPS. Immunomedics’s quarterly revenue was down 31.2% on a year-over-year basis. Equities research analysts forecast that Immunomedics, Inc. will post ($0.53) EPS for the current fiscal year.

Immunomedics Profile

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.

Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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