Atlantic Trust Group LLC Reduces Stake in Immunomedics, Inc. (IMMU)

Atlantic Trust Group LLC lowered its stake in shares of Immunomedics, Inc. (NASDAQ:IMMU) by 48.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,325 shares of the biopharmaceutical company’s stock after selling 45,300 shares during the period. Atlantic Trust Group LLC’s holdings in Immunomedics were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Immunomedics by 11.9% during the first quarter. Vanguard Group Inc. now owns 4,416,533 shares of the biopharmaceutical company’s stock valued at $28,574,000 after purchasing an additional 468,314 shares during the period. State Street Corp raised its holdings in shares of Immunomedics by 118.2% during the first quarter. State Street Corp now owns 3,513,549 shares of the biopharmaceutical company’s stock valued at $22,730,000 after purchasing an additional 1,903,355 shares during the period. Redmile Group LLC acquired a new position in shares of Immunomedics during the first quarter valued at about $21,874,000. FMR LLC raised its holdings in shares of Immunomedics by 34.6% during the first quarter. FMR LLC now owns 1,524,463 shares of the biopharmaceutical company’s stock valued at $9,863,000 after purchasing an additional 391,815 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Immunomedics by 1,648.0% during the first quarter. Point72 Asset Management L.P. now owns 1,195,613 shares of the biopharmaceutical company’s stock valued at $7,736,000 after purchasing an additional 1,127,213 shares during the period. Hedge funds and other institutional investors own 77.99% of the company’s stock.

IMMU has been the topic of several research reports. Jefferies Group LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Immunomedics in a report on Friday, July 14th. Zacks Investment Research lowered shares of Immunomedics from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Cowen and Company reiterated an “outperform” rating and set a $15.00 price objective on shares of Immunomedics in a report on Monday, July 24th. ValuEngine raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $12.00.

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Shares of Immunomedics, Inc. (NASDAQ IMMU) opened at 11.64 on Wednesday. The company’s market capitalization is $1.30 billion. Immunomedics, Inc. has a 52-week low of $2.02 and a 52-week high of $12.96. The stock’s 50 day moving average is $9.59 and its 200 day moving average is $7.65.

Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). The company had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.75 million. During the same period in the prior year, the business posted ($0.17) earnings per share. Immunomedics’s revenue for the quarter was down 31.2% compared to the same quarter last year. Equities analysts expect that Immunomedics, Inc. will post ($0.55) EPS for the current year.

In related news, Director Cynthia L. Goldenberg sold 40,000 shares of Immunomedics stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $9.24, for a total transaction of $369,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David M. Goldenberg sold 20,000 shares of Immunomedics stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $12.64, for a total transaction of $252,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,000 shares of company stock valued at $1,051,200. 6.60% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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