Insider Buying: Immunomedics, Inc. (NASDAQ:IMMU) Insider Purchases 1,000,000 Shares of Stock

Immunomedics, Inc. (NASDAQ:IMMU) insider Avoro Capital Advisors Llc purchased 1,000,000 shares of the stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $13.55 per share, with a total value of $13,550,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

  • On Wednesday, June 26th, Avoro Capital Advisors Llc purchased 400,000 shares of Immunomedics stock. The shares were purchased at an average price of $13.25 per share, with a total value of $5,300,000.00.
  • On Monday, June 3rd, Avoro Capital Advisors Llc purchased 785,539 shares of Immunomedics stock. The shares were purchased at an average price of $12.19 per share, with a total value of $9,575,720.41.
  • On Wednesday, June 5th, Avoro Capital Advisors Llc purchased 1,535,539 shares of Immunomedics stock. The shares were purchased 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 purchased 500,000 shares of Immunomedics stock. The shares were purchased 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 purchased 750,000 shares of Immunomedics stock. The shares were purchased at an average price of $15.11 per share, with a total value of $11,332,500.00.

NASDAQ IMMU traded down $0.37 on Friday, reaching $14.93. The company’s stock had a trading volume of 2,089,348 shares, compared to its average volume of 1,972,002. Immunomedics, Inc. has a twelve month low of $11.55 and a twelve month high of $26.99. 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 market capitalization of $2.86 billion, a PE ratio of -14.50 and a beta of 2.02. The business has a 50 day moving average price of $13.53.

Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.10). During the same quarter in the prior year, the business earned ($0.21) EPS. As a group, sell-side analysts anticipate that Immunomedics, Inc. will post -1.59 EPS for the current fiscal year.

IMMU has been the subject of several recent research reports. Berenberg Bank lowered their price target on shares of Lucara Diamond from C$1.60 to C$1.50 in a research report on Wednesday, March 27th. Zacks Investment Research raised shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, July 16th. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. ValuEngine downgraded shares of Viewray from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, HC Wainwright upped their price objective on shares of Acceleron Pharma from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Immunomedics presently has a consensus rating of “Buy” and a consensus target price of $28.45.

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in Immunomedics by 177.7% during the 1st quarter. FMR LLC now owns 22,867,854 shares of the biopharmaceutical company’s stock worth $439,291,000 after buying an additional 14,632,374 shares during the period. BlackRock Inc. raised its holdings in Immunomedics by 3.6% during the 4th quarter. BlackRock Inc. now owns 12,639,350 shares of the biopharmaceutical company’s stock worth $180,363,000 after buying an additional 435,568 shares during the period. American Century Companies Inc. raised its holdings in Immunomedics by 45.2% during the 4th quarter. American Century Companies Inc. now owns 3,116,769 shares of the biopharmaceutical company’s stock worth $44,476,000 after buying an additional 970,128 shares during the period. Jennison Associates LLC raised its holdings in Immunomedics by 23.1% during the 1st quarter. Jennison Associates LLC now owns 3,041,417 shares of the biopharmaceutical company’s stock worth $58,426,000 after buying an additional 570,016 shares during the period. Finally, Foresite Capital Management III LLC raised its holdings in Immunomedics by 0.3% during the 4th quarter. Foresite Capital Management III LLC now owns 2,700,000 shares of the biopharmaceutical company’s stock worth $38,529,000 after buying an additional 8,271 shares during the period. 90.89% of the stock is owned by institutional investors.

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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