The New Venbio Select Advisor Llc Holding in Immunomedics Inc
Venbio Select Advisor Llc filed with the SEC SC 13D form for Immunomedics Inc. The form can be accessed here: 000090266416008839. As reported in Venbio Select Advisor Llc’s form, the filler as of late owns 9% or 9,564,140 shares of the Health Care–company.
Immunomedics Inc stake is a new one for the for this institutional investor and it was filed because of activity on November 11, 2016. We feel this shows Venbio Select Advisor Llc’s positive view for the stock. For a institutional investor managing $380.08 million in assets and having 8+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.
Reasons Why Venbio Select Advisor Llc Bought – Immunomedics Inc Stock
PURPOSE OF TRANSACTION
The Reporting Persons acquired the shares of Common Stock reported herein for investment purposes in the ordinary course of business. The Reporting Persons acquired such shares of Common Stock because they believed that the shares of Common Stock reported herein, when purchased, represented an attractive investment opportunity.
On November 16, 2016, the Investment Manager fileda preliminary proxy statement with the SEC in order to solicit proxies in favor of a proposal to elect Dr. Aghazadeh, Scott Canute, Peter Hutt, and Khalid Islam to the Issuer’s board of directors for the upcoming 2016 annual meeting ofstockholders of the Issuer, in opposition to candidates proposed by the Issuer. The preliminary proxy statement also containsseparate proposals related to matters proposed in the Issuer’s definitive proxy statement, filed with the SEC on November2, 2016.
Representatives of the Investment Manager have previously engaged, and may in the future additionally engage, in discussions with members of the Issuer’s management and board of directors, other stockholders and affiliates of any of the foregoing, and other interested persons regarding, among other things, the Issuer’s business, prospects, and strategies to enhance stockholder value, including board composition.
The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the outcome of any discussions referenced above, the Issuer’s financial position and strategic direction, actions taken by the Issuer’s board, price levels of the Common Stock, other investment opportunities available to the Reporting Persons, conditions in the securities market and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as it deems appropriate, including, without limitation, purchasing additional shares of Common Stock and/or other equity, debt, notes, instruments or other securities of the Issuer (collectively, “Securities”), disposing of any or all of its Securities, in the open market or otherwise, at any time and from time to time, and engaging in short selling of or any hedging or similar transactions with respect to the Securities. The Reporting Persons may, at any time and from time to time, review or reconsider their position and/or change their purpose and/or formulate plans or proposals with respect to their investment in the Common Stock.
Except as set forth herein, the Reporting Persons have no present plan or proposal that would relate to or result in any of the matters set forth in subparagraphs (a)-(j) of Item 4 of Schedule 13D.
|CUSIP No. 452907108||SCHEDULE 13D||Page 6 of 9 Pages|
Immunomedics Inc Institutional Sentiment
Latest Security and Exchange filings show 77 investors own Immunomedics Inc. The institutional ownership in Q3 2015 is high, at 47.56% of the outstanding shares. This is increased by 10198511 the total institutional shares. 50388046 were the shares owned by these institutional investors. In total 13 funds opened new Immunomedics Inc stakes, 26 increased stakes. There were 19 that closed positions and 23 reduced them.
Markston International Llc is an institutional investor bullish on Immunomedics Inc, owning 300 shares as of Q3 2015 for less than 0.01% of its portfolio. Krasney Financial Llc owns 44675 shares or 0.02% of its portfolio. GA J-P Turner & Company Capital Mnagement Llc have 0.14% of their stock portfolio for 4286900 shares. Further, Orbimed Advisors Llc reported stake worth 0.06% of its US stock portfolio. The CA Longwood Capital Partners Llc owns 1711067 shares. Immunomedics Inc is 1.70% of the manager’s US portfolio.
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. It has a pipeline of eight clinical-stage product candidates. Its portfolio of investigational products includes antibody-drug conjugates (ADCs) that are designed to deliver a payload of a chemotherapeutic directly to the tumor, while the managing overall toxic effects that are found with conventional administration of these chemotherapy agents. Its ADCs are sacituzumab govitecan (IMMU-132) and labetuzumab govitecan (IMMU-130), which are in Phase II trials.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Venbio Select Advisor Llc website.
Insitutional Activity: The institutional sentiment decreased to 1.02 in Q2 2016. Its down 0.09, from 1.11 in 2016Q1. The ratio worsened, as 14 funds sold all Immunomedics, Inc. shares owned while 34 reduced positions. 27 funds bought stakes while 22 increased positions. They now own 50.90 million shares or 5.47% more from 48.26 million shares in 2016Q1.
Moreover, Principal Grp Incorporated has 0% invested in Immunomedics, Inc. (NASDAQ:IMMU) for 15,626 shares. Susquehanna Intl Group Inc Llp has 328,329 shares for 0% of their US portfolio. First Light Asset Limited Liability Corp, a Minnesota-based fund reported 987,854 shares. The Arkansas-based Stephens Inc Ar has invested 0% in Immunomedics, Inc. (NASDAQ:IMMU). Geode Mngmt Ltd has invested 0% of its portfolio in Immunomedics, Inc. (NASDAQ:IMMU). Massmutual Trust Fsb Adv has 0% invested in the company for 200 shares. Wells Fargo & Mn has invested 0% of its portfolio in Immunomedics, Inc. (NASDAQ:IMMU). Panagora Asset Mgmt Inc accumulated 980,444 shares or 0.01% of the stock. Dafna Cap Management Lc reported 815,000 shares or 1.5% of all its holdings. Deutsche Bank & Trust Ag holds 0% or 959,171 shares in its portfolio. The Maryland-based Price T Rowe Associate Md has invested 0% in Immunomedics, Inc. (NASDAQ:IMMU). Zurcher Kantonalbank (Zurich Cantonalbank) reported 3,396 shares or 0% of all its holdings. Bridgeway Capital Mngmt, a Texas-based fund reported 288,900 shares. The United Kingdom-based Barclays Pcl has invested 0% in Immunomedics, Inc. (NASDAQ:IMMU). Css Lc Il holds 0% of its portfolio in Immunomedics, Inc. (NASDAQ:IMMU) for 31,810 shares.
Insider Transactions: Since June 6, 2016, the stock had 0 insider purchases, and 7 insider sales for $5.11 million net activity. GOLDENBERG CYNTHIA L sold 371,990 shares worth $1.13M. On Wednesday, August 24 Stark Don C sold $29,451 worth of the stock or 9,900 shares. $1.13 million worth of shares were sold by GOLDENBERG DAVID M on Friday, June 10. Another trade for 15,000 shares valued at $44,634 was sold by MARKISON BRIAN A. PAETZOLD MARY E sold $44,673 worth of Immunomedics, Inc. (NASDAQ:IMMU) on Tuesday, August 23.
About 749,603 shares traded hands. Immunomedics, Inc. (NASDAQ:IMMU) has declined 3.15% since April 14, 2016 and is downtrending. It has underperformed by 7.83% the S&P500.
Immunomedics, Inc. is a clinical-stage biopharmaceutical company. The company has a market cap of $326.07 million. The Firm is engaged in developing monoclonal antibody products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. It currently has negative earnings. The Company’s geographic divisions include United States and Europe.
Immunomedics, Inc. (NASDAQ:IMMU) Ratings Coverage
Out of 2 analysts covering Immunomedics (NASDAQ:IMMU), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $5 is the highest target while $1.50 is the lowest. The $5 average target is 66.67% above today’s ($3) stock price. Immunomedics has been the topic of 6 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The rating was downgraded by Wells Fargo to “Market Perform” on Friday, December 4. Jefferies reinitiated Immunomedics, Inc. (NASDAQ:IMMU) on Thursday, October 6 with “Buy” rating. Jefferies upgraded Immunomedics, Inc. (NASDAQ:IMMU) on Friday, May 6 to “Buy” rating. The rating was downgraded by Wells Fargo on Tuesday, June 21 to “Market Perform”. Jefferies downgraded it to “Hold” rating and $2 target price in Wednesday, July 29 report. As per Tuesday, March 15, the company rating was maintained by Jefferies.
According to Zacks Investment Research, “Immunomedics Inc. is a New Jersey-based biopharmaceutical company focused on the development of monoclonal, antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. They have developed a number of advanced proprietary technologies that allow us to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics or toxins, in each case to create highly targeted agents. Using these technologies, the company have built a pipeline of therapeutic product candidates that utilize several different mechanisms of action. They have recently licensed its lead product candidate, epratuzumab, to UCB, S.A. for the treatment of all autoimmune disease indications worldwide.”
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