Two Sigma Advisers LP Invests $9.42 Million in Immunomedics, Inc. (NASDAQ:IMMU)

Two Sigma Advisers LP acquired a new position in Immunomedics, Inc. (NASDAQ:IMMU) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 265,710 shares of the biopharmaceutical company’s stock, valued at approximately $9,417,000.

A number of other large investors have also modified their holdings of IMMU. Front Row Advisors LLC bought a new stake in Immunomedics during the second quarter valued at about $35,000. Windsor Creek Advisors LLC bought a new stake in shares of Immunomedics in the first quarter valued at about $40,000. Pathstone Family Office LLC acquired a new position in Immunomedics in the first quarter worth about $40,000. Verus Capital Partners LLC acquired a new position in Immunomedics in the first quarter worth about $54,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Immunomedics in the second quarter worth about $64,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Several research firms have recently weighed in on IMMU. Guggenheim lowered shares of Immunomedics from a “buy” rating to a “neutral” rating in a report on Tuesday, September 15th. Cowen reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Immunomedics in a research note on Monday, July 6th. Barclays reaffirmed a “hold” rating and issued a $88.00 price objective on shares of Immunomedics in a research note on Wednesday, September 16th. HC Wainwright cut shares of Immunomedics from a “buy” rating to a “neutral” rating in a research report on Monday, September 14th. Finally, Bank of America lifted their price target on shares of Immunomedics from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Immunomedics presently has an average rating of “Hold” and a consensus price target of $46.85.

NASDAQ:IMMU opened at $85.05 on Wednesday. The firm’s fifty day moving average is $48.79 and its 200-day moving average is $33.81. Immunomedics, Inc. has a 52 week low of $8.80 and a 52 week high of $86.91. The firm has a market cap of $19.66 billion, a P/E ratio of -49.16 and a beta of 3.42.

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 Thomson Reuters’ consensus estimate of ($0.34) by ($0.39). The company had revenue of $20.07 million for the quarter, compared to analyst estimates of $24.81 million. As a group, equities analysts expect that Immunomedics, Inc. will post -1.06 EPS for the current year.

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.

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Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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