Signet Financial Management LLC lowered its stake in shares of Immunomedics, Inc. (NASDAQ:IMMU) by 24.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 10,350 shares of the biopharmaceutical company’s stock after selling 3,375 shares during the quarter. Signet Financial Management LLC’s holdings in Immunomedics were worth $158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Global Retirement Partners LLC lifted its holdings in shares of Immunomedics by 215.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,305 shares in the last quarter. Cornerstone Advisors Inc. bought a new position in shares of Immunomedics during the 1st quarter valued at about $40,000. Steward Partners Investment Advisory LLC bought a new position in shares of Immunomedics during the 2nd quarter valued at about $49,000. Coastal Investment Advisors Inc. lifted its holdings in shares of Immunomedics by 23.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 4,200 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 800 shares in the last quarter. Finally, Arden Trust Co bought a new position in shares of Immunomedics during the 2nd quarter valued at about $143,000. Hedge funds and other institutional investors own 88.59% of the company’s stock.

Several equities analysts have recently weighed in on IMMU shares. Piper Jaffray Companies set a $20.00 price objective on Immunomedics and gave the company a “buy” rating in a report on Tuesday. Cowen set a $30.00 price objective on Immunomedics and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded Immunomedics from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. Cantor Fitzgerald started coverage on Immunomedics in a report on Monday, August 19th. They set an “overweight” rating and a $28.00 price objective on the stock. Finally, BidaskClub upgraded Immunomedics from a “sell” rating to a “hold” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $28.33.

In other news, insider Bryan Ball bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average price of $13.35 per share, with a total value of $66,750.00. Following the transaction, the insider now owns 5,000 shares in the company, valued at $66,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Avoro Capital Advisors Llc purchased 1,000,000 shares of the stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $13.55 per share, for a total transaction of $13,550,000.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 1,405,000 shares of company stock worth $18,916,750. 9.40% of the stock is owned by insiders.

Immunomedics stock traded up $1.04 during midday trading on Friday, reaching $16.76. The stock had a trading volume of 116,218 shares, compared to its average volume of 1,934,543. The firm’s fifty day simple moving average is $14.19 and its 200-day simple moving average is $15.22. Immunomedics, Inc. has a 1-year low of $11.55 and a 1-year high of $24.99. The stock has a market capitalization of $3.10 billion, a P/E ratio of -16.20 and a beta of 2.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.93 and a current ratio of 9.93.

Immunomedics (NASDAQ:IMMU) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.09). During the same quarter last year, the business earned ($0.68) earnings per share. On average, sell-side analysts anticipate that Immunomedics, Inc. will post -1.61 earnings per share for the current fiscal year.

About Immunomedics

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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