Sphera Funds Management LTD. lowered its position in Immunomedics, Inc. (NASDAQ:IMMU) by 42.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 550,000 shares of the biopharmaceutical company’s stock after selling 400,000 shares during the period. Immunomedics accounts for about 0.8% of Sphera Funds Management LTD.’s holdings, making the stock its 28th largest position. Sphera Funds Management LTD. owned 0.50% of Immunomedics worth $4,857,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC boosted its position in Immunomedics by 99.3% in the second quarter. SG Americas Securities LLC now owns 20,719 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 10,323 shares during the last quarter. Legal & General Group Plc boosted its position in Immunomedics by 7.4% in the second quarter. Legal & General Group Plc now owns 25,477 shares of the biopharmaceutical company’s stock worth $222,000 after buying an additional 1,747 shares during the last quarter. Trexquant Investment LP acquired a new position in Immunomedics during the second quarter worth approximately $256,000. Geneva Advisors LLC boosted its position in Immunomedics by 0.6% in the second quarter. Geneva Advisors LLC now owns 31,635 shares of the biopharmaceutical company’s stock worth $279,000 after buying an additional 200 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Immunomedics by 38.8% in the first quarter. Bank of America Corp DE now owns 33,707 shares of the biopharmaceutical company’s stock worth $218,000 after buying an additional 9,426 shares during the last quarter. Institutional investors and hedge funds own 77.99% of the company’s stock.

Shares of Immunomedics, Inc. (IMMU) traded down 0.40% during midday trading on Friday, hitting $12.59. The stock had a trading volume of 4,265,990 shares. The stock’s 50-day moving average price is $9.13 and its 200 day moving average price is $7.37. The company’s market cap is $1.40 billion. Immunomedics, Inc. has a 52 week low of $2.02 and a 52 week high of $12.96.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings data on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.13. The company had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.75 million. The company’s revenue for the quarter was down 31.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.17) earnings per share. On average, equities analysts forecast that Immunomedics, Inc. will post ($0.55) earnings per share for the current year.

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A number of research firms recently commented on IMMU. Jefferies Group LLC set a $9.00 price target on Immunomedics and gave the stock a “buy” rating in a report on Saturday, May 6th. BidaskClub cut Immunomedics from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research cut Immunomedics from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine upgraded Immunomedics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Cowen and Company restated an “outperform” rating and set a $15.00 price objective on shares of Immunomedics in a report on Monday, July 24th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Immunomedics has an average rating of “Buy” and an average price target of $12.00.

In related news, Director Cynthia L. Goldenberg sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $10.72, for a total value of $428,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.60% of the stock is currently owned by company insiders.

Immunomedics Company Profile

Immunomedics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Its geographic segments include United States and Europe. Its technologies allow it to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.

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Institutional Ownership by Quarter for Immunomedics (NASDAQ:IMMU)

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