Spark Investment Management LLC bought a new stake in shares of Immunomedics, Inc. (NASDAQ:IMMU) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 81,900 shares of the biopharmaceutical company’s stock, valued at approximately $723,000.

Other institutional investors also recently added to or reduced their stakes in the company. NEXT Financial Group Inc increased its position in Immunomedics by 71.8% in the first quarter. NEXT Financial Group Inc now owns 108,250 shares of the biopharmaceutical company’s stock valued at $620,000 after buying an additional 45,250 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Immunomedics by 49.6% in the first quarter. Parametric Portfolio Associates LLC now owns 167,077 shares of the biopharmaceutical company’s stock valued at $1,081,000 after buying an additional 55,392 shares during the period. TD Asset Management Inc. acquired a new position in shares of Immunomedics during the first quarter valued at approximately $855,000. UBS Asset Management Americas Inc. increased its position in shares of Immunomedics by 361.2% in the first quarter. UBS Asset Management Americas Inc. now owns 67,301 shares of the biopharmaceutical company’s stock valued at $435,000 after buying an additional 52,709 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Immunomedics by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 464,215 shares of the biopharmaceutical company’s stock valued at $3,003,000 after buying an additional 23,518 shares during the period. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

Immunomedics, Inc. (IMMU) opened at 7.80 on Friday. Immunomedics, Inc. has a 12 month low of $2.02 and a 12 month high of $9.51. The firm has a 50-day moving average price of $8.59 and a 200 day moving average price of $6.79. The company’s market cap is $854.91 million.

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IMMU has been the topic of several research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Immunomedics in a research report on Friday, July 14th. Zacks Investment Research downgraded Immunomedics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Wells Fargo & Company raised Immunomedics from a “market perform” rating to an “outperform” rating in a research report on Friday, May 5th. ValuEngine raised Immunomedics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Cowen and Company initiated coverage on Immunomedics in a research report on Friday, May 26th. They issued an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $12.00.

About Immunomedics

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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Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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