Immunomedics, Inc. (NASDAQ:IMMU) Director Buys $9,575,720.41 in Stock

Immunomedics, Inc. (NASDAQ:IMMU) Director Avoro Capital Advisors Llc bought 785,539 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was purchased at an average price of $12.19 per share, with a total value of $9,575,720.41. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Avoro Capital Advisors Llc also recently made the following trade(s):

  • On Wednesday, June 26th, Avoro Capital Advisors Llc acquired 400,000 shares of Immunomedics stock. The shares were bought at an average price of $13.25 per share, with a total value of $5,300,000.00.
  • On Friday, June 28th, Avoro Capital Advisors Llc acquired 1,000,000 shares of Immunomedics stock. The shares were bought at an average price of $13.55 per share, with a total value of $13,550,000.00.
  • On Wednesday, June 5th, Avoro Capital Advisors Llc acquired 1,535,539 shares of Immunomedics stock. The shares were bought at an average price of $12.21 per share, with a total value of $18,748,931.19.
  • On Monday, May 13th, Avoro Capital Advisors Llc acquired 500,000 shares of Immunomedics stock. The shares were bought at an average price of $15.07 per share, with a total value of $7,535,000.00.
  • On Wednesday, May 15th, Avoro Capital Advisors Llc acquired 750,000 shares of Immunomedics stock. The shares were bought at an average price of $15.11 per share, with a total value of $11,332,500.00.

IMMU stock traded up $0.02 during trading on Friday, reaching $13.87. 1,670,034 shares of the company’s stock were exchanged, compared to its average volume of 3,085,750. Immunomedics, Inc. has a 1-year low of $11.55 and a 1-year high of $27.33. The company has a current ratio of 7.89, a quick ratio of 7.89 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $13.79. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -13.47 and a beta of 2.13.

Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.10). During the same period in the prior year, the company earned ($0.21) earnings per share. On average, analysts anticipate that Immunomedics, Inc. will post -1.63 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in Immunomedics by 177.7% in the first quarter. FMR LLC now owns 22,867,854 shares of the biopharmaceutical company’s stock valued at $439,291,000 after purchasing an additional 14,632,374 shares in the last quarter. Metropolitan Life Insurance Co NY grew its stake in Immunomedics by 3.8% in the first quarter. Metropolitan Life Insurance Co NY now owns 48,110 shares of the biopharmaceutical company’s stock valued at $924,000 after purchasing an additional 1,757 shares in the last quarter. FIL Ltd purchased a new position in Immunomedics in the first quarter valued at about $1,937,000. Jennison Associates LLC grew its stake in Immunomedics by 23.1% in the first quarter. Jennison Associates LLC now owns 3,041,417 shares of the biopharmaceutical company’s stock valued at $58,426,000 after purchasing an additional 570,016 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Immunomedics by 8.4% in the first quarter. CIBC Private Wealth Group LLC now owns 100,802 shares of the biopharmaceutical company’s stock valued at $1,936,000 after purchasing an additional 7,790 shares in the last quarter. 90.89% of the stock is currently owned by institutional investors.

A number of research firms recently issued reports on IMMU. Zacks Investment Research lowered Immunomedics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Berenberg Bank initiated coverage on Immunomedics in a research report on Wednesday, March 27th. They set a “buy” rating and a $40.00 price objective for the company. Piper Jaffray Companies set a $20.00 price target on Immunomedics and gave the stock a “buy” rating in a research report on Monday, April 8th. BidaskClub lowered Immunomedics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, HC Wainwright initiated coverage on Immunomedics in a research report on Monday, March 4th. They set a “buy” rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $28.45.

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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