Immunomedics, Inc. (IMMU) Holdings Raised by California Public Employees Retirement System

California Public Employees Retirement System raised its position in Immunomedics, Inc. (NASDAQ:IMMU) by 15.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,275 shares of the biopharmaceutical company’s stock after purchasing an additional 23,552 shares during the period. California Public Employees Retirement System’s holdings in Immunomedics were worth $4,220,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Tocqueville Asset Management L.P. increased its stake in Immunomedics by 15.9% in the second quarter. Tocqueville Asset Management L.P. now owns 43,725 shares of the biopharmaceutical company’s stock valued at $1,035,000 after purchasing an additional 6,000 shares in the last quarter. Amalgamated Bank increased its stake in Immunomedics by 47.4% in the second quarter. Amalgamated Bank now owns 19,954 shares of the biopharmaceutical company’s stock valued at $472,000 after purchasing an additional 6,415 shares in the last quarter. Xact Kapitalforvaltning AB increased 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 purchasing an additional 6,500 shares in the last quarter. Northern Trust Corp increased its stake in Immunomedics by 0.6% in the first quarter. Northern Trust Corp now owns 1,256,143 shares of the biopharmaceutical company’s stock valued at $18,353,000 after purchasing an additional 7,396 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Immunomedics by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 554,914 shares of the biopharmaceutical company’s stock valued at $13,135,000 after purchasing an additional 7,694 shares in the last quarter. 78.23% of the stock is owned by hedge funds and other institutional investors.

Shares of IMMU stock opened at $23.95 on Friday. 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 12-month low of $8.68 and a 12-month high of $27.33. The firm has a market cap of $4.18 billion, a PE ratio of -23.25 and a beta of 1.84.

Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings data on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.46). Immunomedics had a negative return on equity of 124.54% and a negative net margin of 12,701.21%. The company had revenue of $0.40 million for the quarter, compared to the consensus estimate of $4.27 million. During the same period in the prior year, the company earned ($0.48) EPS. The firm’s revenue was down 33.3% on a year-over-year basis. On average, research analysts anticipate that Immunomedics, Inc. will post -1.09 EPS for the current fiscal year.

Several brokerages have commented on IMMU. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 5th. Zacks Investment Research raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. ValuEngine raised shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 2nd. TheStreet downgraded shares of Immunomedics from a “c-” rating to a “d+” rating in a research report on Tuesday, September 11th. Finally, Goldman Sachs Group assumed coverage on shares of Immunomedics in a research report on Monday, September 17th. They set a “buy” rating and a $36.00 price objective for the company. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Immunomedics currently has an average rating of “Buy” and an average price target of $38.00.

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.

Further Reading: Understanding Relative Strength Index

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Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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