Prudential Financial Inc. raised its holdings in Immunomedics, Inc. (NASDAQ:IMMU) by 21.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,483 shares of the biopharmaceutical company’s stock after acquiring an additional 33,200 shares during the quarter. Prudential Financial Inc. owned 0.10% of Immunomedics worth $2,786,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Exane Derivatives purchased a new stake in Immunomedics during the fourth quarter valued at about $32,000. North Star Investment Management Corp. purchased a new stake in Immunomedics during the fourth quarter valued at about $50,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Immunomedics by 16.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,151 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 1,140 shares in the last quarter. Union Bankshares Corp purchased a new stake in Immunomedics during the fourth quarter valued at about $143,000. Finally, Exencial Wealth Advisors LLC purchased a new stake in Immunomedics during the fourth quarter valued at about $217,000. 84.64% of the stock is owned by institutional investors.
A number of analysts have commented on IMMU shares. Zacks Investment Research raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. BidaskClub lowered shares of Immunomedics from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. Cowen reaffirmed a “buy” rating and set a $30.00 price objective on shares of Immunomedics in a research note on Friday, December 7th. Jefferies Financial Group set a $21.00 price objective on shares of Immunomedics and gave the company a “buy” rating in a research note on Friday, January 18th. Finally, B. Riley started coverage on shares of Immunomedics in a research note on Tuesday, January 8th. They set a “buy” rating and a $55.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $28.00.
Shares of IMMU opened at $18.56 on Friday. The stock has a market capitalization of $3.53 billion, a PE ratio of -18.02 and a beta of 2.08. Immunomedics, Inc. has a fifty-two week low of $11.55 and a fifty-two week high of $27.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 13.45 and a current ratio of 13.45.
TRADEMARK VIOLATION NOTICE: “Immunomedics, Inc. (IMMU) Shares Bought by Prudential Financial Inc.” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another website, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2019/03/17/immunomedics-inc-immu-shares-bought-by-prudential-financial-inc.html.
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.
Featured Story: How to find the components of the quick ratio
Receive News & Ratings for Immunomedics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immunomedics and related companies with MarketBeat.com's FREE daily email newsletter.