Rhenman & Partners Asset Management AB Grows Holdings in Immunomedics, Inc. (IMMU)
Rhenman & Partners Asset Management AB grew its stake in Immunomedics, Inc. (NASDAQ:IMMU) by 28.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 616,367 shares of the biopharmaceutical company’s stock after buying an additional 136,037 shares during the quarter. Immunomedics makes up approximately 1.4% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 27th biggest position. Rhenman & Partners Asset Management AB’s holdings in Immunomedics were worth $11,840,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in IMMU. Legal & General Group Plc boosted its stake in shares of Immunomedics by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 48,707 shares of the biopharmaceutical company’s stock valued at $1,014,000 after purchasing an additional 1,082 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Immunomedics by 16.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,151 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 1,140 shares in the last quarter. Strs Ohio boosted its stake in shares of Immunomedics by 3.0% in the 4th quarter. Strs Ohio now owns 76,651 shares of the biopharmaceutical company’s stock valued at $1,093,000 after purchasing an additional 2,200 shares in the last quarter. Exane Derivatives purchased a new stake in shares of Immunomedics in the 4th quarter valued at $32,000. Finally, Karp Capital Management Corp purchased a new stake in shares of Immunomedics in the 4th quarter valued at $33,000. 85.22% of the stock is owned by institutional investors and hedge funds.
Shares of IMMU opened at $18.86 on Thursday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -18.31 and a beta of 2.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 13.45 and a quick ratio of 13.45. Immunomedics, Inc. has a twelve month low of $11.55 and a twelve month high of $27.33.
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Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. Its advanced antibody-drug conjugates are sacituzumab govitecan and labetuzumab govitecan, which are in advanced trials for various solid tumors and metastatic colorectal cancer, respectively.
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