Acuta Capital Partners buys $20.6 Million stake in Immunomedics (IMMU)

Immunomedics (IMMU) : Acuta Capital Partners scooped up 1,562,139 additional shares in Immunomedics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 5,526,172 shares of Immunomedics which is valued at $20.6 Million.Immunomedics makes up approximately 12.09% of Acuta Capital Partners’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in IMMU in the latest quarter, The investment management firm added 166,274 additional shares and now holds a total of 3,607,879 shares of Immunomedics which is valued at $13.4 Million. Spot Trading L.l.c sold out all of its stake in IMMU during the most recent quarter. The investment firm sold 6,878 shares of IMMU which is valued $25,586.Sandy Spring Bank boosted its stake in IMMU in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 5,300 shares of Immunomedics which is valued at $19,186.Swiss National Bank boosted its stake in IMMU in the latest quarter, The investment management firm added 27,300 additional shares and now holds a total of 141,550 shares of Immunomedics which is valued at $512,411.

Immunomedics opened for trading at $4.33 and hit $4.6 on the upside on Wednesday, eventually ending the session at $4.54, with a gain of 5.83% or 0.25 points. The heightened volatility saw the trading volume jump to 17,79,737 shares. Company has a market cap of $430 M.

Many Wall Street Analysts have commented on Immunomedics. Immunomedics was Upgraded by Jefferies to ” Buy” on May 6, 2016.

Immunomedics Inc. is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer autoimmune disorders and other serious diseases. The Company’s technologies allow it to create humanized antibodies in unlabeled or naked form or conjugated with radioactive isotopes chemotherapeutics cytokines or toxins. Its product candidates include 90Y-clivatuzumab tetraxetan. Its radiolabeled antibody is in a Phase III registration trial in patients with advanced pancreatic cancer. Its portfolio of investigational products also includes antibody-drug conjugates (ADCs). Its ADCs consist of sacituzumab govitecan (IMMU-132) and labetuzumab govitecan (IMMU-130) which are in Phase II trials for a number of solid tumors and metastatic colorectal cancer (mCRC) respectively. It has other product candidates that target solid tumors and hematologic malignancies as well as other diseases in clinical and pre-clinical development-stages.

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