State of New Jersey Common Pension Fund D increased its position in Immunomedics, Inc. (NASDAQ:IMMU) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,836 shares of the biopharmaceutical company’s stock after purchasing an additional 5,017 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Immunomedics worth $11,380,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of IMMU. Xponance Inc. boosted its stake in Immunomedics by 0.6% in the 3rd quarter. Xponance Inc. now owns 21,488 shares of the biopharmaceutical company’s stock valued at $1,827,000 after buying an additional 136 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Immunomedics in the 3rd quarter valued at $10,994,000. NEXT Financial Group Inc bought a new stake in shares of Immunomedics in the 3rd quarter worth about $58,000. World Asset Management Inc acquired a new stake in shares of Immunomedics during the 3rd quarter worth about $315,000. Finally, Syquant Capital Sas acquired a new stake in shares of Immunomedics during the 3rd quarter worth about $22,782,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.
Shares of Immunomedics stock opened at $87.86 on Friday. The business has a fifty day simple moving average of $82.68 and a 200 day simple moving average of $47.66. The stock has a market cap of $20.31 billion, a PE ratio of -50.79 and a beta of 2.90. Immunomedics, Inc. has a 12 month low of $8.80 and a 12 month high of $87.93.
Several analysts have weighed in on IMMU shares. Morgan Stanley upped their price objective on shares of Immunomedics from $32.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. ValuEngine raised Immunomedics from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Bank of America boosted their price objective on Immunomedics from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Guggenheim lowered Immunomedics from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 15th. Finally, Jefferies Financial Group downgraded shares of Immunomedics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $48.42.
Immunomedics Company Profile
Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. It develops sacituzumab govitecan, an antibody-drug conjugate for the treatment of patients with metastatic triple-negative breast cancer. The company focuses on commercializing sacituzumab govitecan as a third-line therapy for patients with metastatic triple-negative breast cancer in the United States.
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