Immunomedics, Inc. (IMMU): The Smart Money Is Quietly Loading Up On This Stock

As industry-wide interest jumped, key hedge funds have been driving this bullishness. Nexthera Capital, led by Ori Hershkovitz, established the biggest position in Immunomedics, Inc. (NASDAQ:IMMU). Nexthera Capital had $4.1 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $1 million investment in the stock during the quarter. The other fund with a new position in the stock is Ken Griffin’s Citadel Investment Group.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Immunomedics, Inc. (NASDAQ:IMMU) but similarly valued. We will take a look at Agile Therapeutics Inc (NASDAQ:AGRX), Allied Motion Technologies, Inc. (NASDAQ:AMOT), Franklin Covey Co. (NYSE:FC), and Global Sources Ltd. (Bermuda) (NASDAQ:GSOL). All of these stocks’ market caps are closest to IMMU’s market cap.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $21 million. That figure was $80 million in IMMU’s case. Agile Therapeutics Inc (NASDAQ:AGRX) is the most popular stock in this table. On the other hand Global Sources Ltd. (Bermuda) (NASDAQ:GSOL) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Immunomedics, Inc. (NASDAQ:IMMU) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None