Immunomedics, Inc. (IMMU) is Nexthera Capital LP’s 2nd Largest Position
Nexthera Capital LP lifted its holdings in Immunomedics, Inc. (NASDAQ:IMMU) by 22.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,329,104 shares of the biopharmaceutical company’s stock after buying an additional 247,694 shares during the period. Immunomedics comprises approximately 4.9% of Nexthera Capital LP’s holdings, making the stock its 2nd largest position. Nexthera Capital LP’s holdings in Immunomedics were worth $31,460,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of IMMU. Quantitative Systematic Strategies LLC acquired a new stake in shares of Immunomedics in the 1st quarter valued at about $180,000. First Allied Advisory Services Inc. acquired a new stake in shares of Immunomedics in the 2nd quarter valued at about $205,000. Jasper Ridge Partners L.P. acquired a new stake in shares of Immunomedics in the 2nd quarter valued at about $259,000. Xact Kapitalforvaltning AB grew its stake in shares of Immunomedics by 54.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 18,418 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 6,500 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Immunomedics in the 2nd quarter valued at about $298,000. 78.46% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented on the company. BidaskClub upgraded Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 25th. B. Riley assumed coverage on Immunomedics in a research note on Thursday, June 7th. They issued a “buy” rating and a $53.00 target price for the company. Wells Fargo & Co raised their target price on Immunomedics from $25.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, June 4th. ValuEngine upgraded Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 2nd. Finally, Zacks Investment Research upgraded Immunomedics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $32.00.
Immunomedics (NASDAQ:IMMU) last released its quarterly earnings results on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $4.27 million. Immunomedics had a negative net margin of 12,701.21% and a negative return on equity of 124.54%. Immunomedics’s revenue for the quarter was down 33.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.48) EPS. analysts forecast that Immunomedics, Inc. will post -1.09 EPS for the current year.
Immunomedics Company Profile
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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