Jennison Associates LLC Has $58.43 Million Holdings in Immunomedics, Inc. (NASDAQ:IMMU)

Jennison Associates LLC boosted its position in Immunomedics, Inc. (NASDAQ:IMMU) by 23.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,041,417 shares of the biopharmaceutical company’s stock after purchasing an additional 570,016 shares during the quarter. Jennison Associates LLC owned about 1.59% of Immunomedics worth $58,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Immunomedics by 16.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,151 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 1,140 shares in the last quarter. Exane Derivatives bought a new stake in shares of Immunomedics during the 4th quarter worth about $32,000. Xact Kapitalforvaltning AB boosted its stake in shares of Immunomedics by 21.9% during the 4th quarter. Xact Kapitalforvaltning AB now owns 23,918 shares of the biopharmaceutical company’s stock worth $341,000 after acquiring an additional 4,300 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Immunomedics by 49.5% during the 4th quarter. Rhumbline Advisers now owns 195,374 shares of the biopharmaceutical company’s stock worth $2,788,000 after acquiring an additional 64,659 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Immunomedics during the 4th quarter worth about $323,000. Institutional investors and hedge funds own 90.89% of the company’s stock.

In related news, insider Avoro Capital Advisors Llc acquired 1,000,000 shares of the stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $13.55 per share, for a total transaction of $13,550,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bryan Ball acquired 5,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was bought at an average price of $13.35 per share, for a total transaction of $66,750.00. Following the completion of the purchase, the insider now owns 5,000 shares in the company, valued at approximately $66,750. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,976,078 shares of company stock valued at $66,108,902. Insiders own 9.40% of the company’s stock.

Several analysts have recently issued reports on the company. HC Wainwright set a $28.00 price target on Immunomedics and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. BidaskClub downgraded Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Zacks Investment Research raised Immunomedics from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, April 12th. Finally, Piper Jaffray Companies set a $20.00 price objective on Immunomedics and gave the stock a “buy” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $28.45.

Immunomedics stock traded up $0.02 during trading hours on Friday, hitting $13.87. The stock had a trading volume of 1,670,034 shares, compared to its average volume of 3,085,750. The company’s 50-day simple moving average is $13.79. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.89 and a current ratio of 7.89. The stock has a market cap of $2.66 billion, a P/E ratio of -13.47 and a beta of 2.13. Immunomedics, Inc. has a fifty-two week low of $11.55 and a fifty-two week high of $27.33.

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

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.

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Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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