Signet Financial Management LLC Cuts Holdings in Immunomedics, Inc. (IMMU)
Signet Financial Management LLC decreased its holdings in shares of Immunomedics, Inc. (NASDAQ:IMMU) by 33.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,125 shares of the biopharmaceutical company’s stock after selling 7,650 shares during the quarter. Signet Financial Management LLC’s holdings in Immunomedics were worth $134,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in IMMU. Amalgamated Bank lifted its holdings in Immunomedics by 8.1% during the 2nd quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 966 shares during the last quarter. Stephens Inc. AR acquired a new stake in Immunomedics during the 2nd quarter valued at $115,000. SG Americas Securities LLC lifted its holdings in Immunomedics by 99.3% during the 2nd quarter. SG Americas Securities LLC now owns 20,719 shares of the biopharmaceutical company’s stock valued at $183,000 after purchasing an additional 10,323 shares during the last quarter. Bank of America Corp DE lifted its holdings in Immunomedics by 38.8% during the 1st quarter. Bank of America Corp DE now owns 33,707 shares of the biopharmaceutical company’s stock valued at $218,000 after purchasing an additional 9,426 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Immunomedics by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 25,477 shares of the biopharmaceutical company’s stock valued at $222,000 after purchasing an additional 1,747 shares during the last quarter. 57.36% of the stock is owned by institutional investors and hedge funds.
IMMU has been the subject of several research reports. BidaskClub downgraded Immunomedics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised Immunomedics from a “sell” rating to a “buy” rating and set a $9.50 price target for the company in a report on Tuesday, July 11th. Finally, Jefferies Group LLC set a $9.00 price target on Immunomedics and gave the company a “buy” rating in a report on Saturday, June 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $14.67.
In other news, insider David M. Goldenberg sold 20,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $12.64, for a total transaction of $252,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cynthia L. Goldenberg sold 40,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $10.72, for a total value of $428,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 100,000 shares of company stock worth $1,051,200. Insiders own 6.60% of the company’s stock.
Shares of Immunomedics, Inc. (NASDAQ:IMMU) traded down 1.13% during midday trading on Friday, reaching $12.24. The company’s stock had a trading volume of 345,594 shares. Immunomedics, Inc. has a one year low of $2.02 and a one year high of $14.48. The firm has a 50-day moving average of $11.68 and a 200-day moving average of $8.50. The stock’s market cap is $1.36 billion.
Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings data on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.13). The business had revenue of $0.64 million during the quarter, compared to analyst estimates of $0.75 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The company’s revenue was down 31.2% on a year-over-year basis. On average, analysts forecast that Immunomedics, Inc. will post ($0.53) EPS for the current year.
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.
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