Handelsbanken Fonder AB Acquires Shares of 34,018 Immunomedics, Inc. (NASDAQ:IMMU)

Handelsbanken Fonder AB acquired a new stake in Immunomedics, Inc. (NASDAQ:IMMU) in the 2nd quarter, Holdings Channel reports. The fund acquired 34,018 shares of the biopharmaceutical company’s stock, valued at approximately $1,206,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans boosted its stake in shares of Immunomedics by 0.3% during the first quarter. Thrivent Financial for Lutherans now owns 140,195 shares of the biopharmaceutical company’s stock worth $1,890,000 after buying an additional 368 shares during the period. M&T Bank Corp boosted its stake in shares of Immunomedics by 4.8% during the first quarter. M&T Bank Corp now owns 15,933 shares of the biopharmaceutical company’s stock worth $215,000 after buying an additional 735 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Immunomedics by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 33,611 shares of the biopharmaceutical company’s stock worth $1,191,000 after buying an additional 767 shares during the period. US Bancorp DE boosted its stake in shares of Immunomedics by 9.4% during the second quarter. US Bancorp DE now owns 10,566 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 908 shares during the period. Finally, Front Row Advisors LLC acquired a new stake in shares of Immunomedics during the second quarter worth about $35,000. Institutional investors own 88.89% of the company’s stock.

Shares of Immunomedics stock opened at $85.05 on Wednesday. Immunomedics, Inc. has a 12-month low of $8.80 and a 12-month high of $86.91. The stock has a market cap of $19.66 billion, a PE ratio of -49.16 and a beta of 3.42. The company has a 50-day moving average of $48.79 and a two-hundred day moving average of $33.81.

Immunomedics (NASDAQ:IMMU) last issued its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.39). The business had revenue of $20.07 million for the quarter, compared to the consensus estimate of $24.81 million. On average, research analysts predict that Immunomedics, Inc. will post -1.06 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on IMMU. BidaskClub upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Wednesday, September 16th. Jefferies Financial Group cut shares of Immunomedics from a “buy” rating to a “hold” rating in a report on Tuesday, September 15th. Morgan Stanley increased their price target on shares of Immunomedics from $32.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Bank of America increased their price target on shares of Immunomedics from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Zacks Investment Research raised shares of Immunomedics from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday, June 30th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.85.

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.

Featured Story: What is a Swap?

Want to see what other hedge funds are holding IMMU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Immunomedics, Inc. (NASDAQ:IMMU).

Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

Receive News & Ratings for Immunomedics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immunomedics and related companies with MarketBeat.com's FREE daily email newsletter.