Seven Eight Capital LP cut its position in shares of Immunomedics, Inc. (NASDAQ:IMMU) by 48.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 102,157 shares of the biopharmaceutical company’s stock after selling 94,300 shares during the quarter. Seven Eight Capital LP’s holdings in Immunomedics were worth $2,128,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IMMU. First Allied Advisory Services Inc. purchased a new position in Immunomedics during the second quarter worth about $205,000. Jasper Ridge Partners L.P. purchased a new position in Immunomedics during the second quarter worth about $259,000. Xact Kapitalforvaltning AB boosted its stake in Immunomedics by 54.5% in the first quarter. Xact Kapitalforvaltning AB now owns 18,418 shares of the biopharmaceutical company’s stock valued at $269,000 after acquiring an additional 6,500 shares during the last quarter. Trexquant Investment LP purchased a new position in Immunomedics in the second quarter valued at about $298,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Immunomedics by 831.8% in the first quarter. Cubist Systematic Strategies LLC now owns 20,657 shares of the biopharmaceutical company’s stock valued at $302,000 after acquiring an additional 18,440 shares during the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.

A number of research analysts have weighed in on the stock. ValuEngine upgraded shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 2nd. Piper Jaffray Companies assumed coverage on shares of Immunomedics in a research note on Thursday, October 18th. They issued a “buy” rating and a $33.00 target price on the stock. Zacks Investment Research cut shares of Immunomedics from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. BidaskClub upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. Finally, B. Riley boosted their target price on shares of Immunomedics from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.00.

IMMU opened at $23.70 on Tuesday. The company has a quick ratio of 14.83, a current ratio of 14.83 and a debt-to-equity ratio of 0.05. Immunomedics, Inc. has a twelve month low of $8.68 and a twelve month high of $27.33.

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 Zacks’ consensus estimate of ($0.22) by ($0.46). The company had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $4.27 million. Immunomedics had a negative net margin of 12,701.21% and a negative return on equity of 124.54%. The firm’s revenue was down 33.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.48) earnings per share. Sell-side analysts anticipate that Immunomedics, Inc. will post -1.09 earnings per share for the current year.

Immunomedics Company Profile

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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Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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