NGAM Advisors L.P. lowered its stake in ImmunoGen, Inc. (NASDAQ:IMGN) by 2.5% during the second quarter, Holdings Channel reports. The institutional investor owned 293,231 shares of the biotechnology company’s stock after selling 7,368 shares during the period. NGAM Advisors L.P.’s holdings in ImmunoGen were worth $2,085,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in IMGN. Aperio Group LLC increased its stake in shares of ImmunoGen by 45.1% in the second quarter. Aperio Group LLC now owns 16,797 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 5,221 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of ImmunoGen by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 27,761 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 743 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of ImmunoGen during the first quarter valued at $117,000. Parametric Portfolio Associates LLC increased its stake in shares of ImmunoGen by 7.7% in the first quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 2,753 shares in the last quarter. Finally, Stephens Inc. AR acquired a new stake in shares of ImmunoGen during the first quarter valued at $152,000. Institutional investors and hedge funds own 74.38% of the company’s stock.
ImmunoGen, Inc. (NASDAQ:IMGN) opened at 5.72 on Friday. The company’s market capitalization is $512.49 million. The firm has a 50-day moving average price of $6.40 and a 200 day moving average price of $4.41. ImmunoGen, Inc. has a 52-week low of $1.51 and a 52-week high of $8.04.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The firm had revenue of $39.02 million during the quarter, compared to analysts’ expectations of $30.59 million. During the same quarter in the previous year, the company posted ($0.53) earnings per share. ImmunoGen’s revenue for the quarter was up 426.6% compared to the same quarter last year. On average, analysts predict that ImmunoGen, Inc. will post ($0.84) earnings per share for the current fiscal year.
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Several brokerages recently weighed in on IMGN. Canaccord Genuity set a $6.00 price objective on ImmunoGen and gave the stock a “buy” rating in a research report on Saturday, May 6th. Cowen and Company restated a “hold” rating on shares of ImmunoGen in a research report on Saturday, May 6th. Royal Bank Of Canada set a $5.00 price objective on ImmunoGen and gave the stock a “hold” rating in a research report on Saturday, May 6th. Jefferies Group LLC restated a “buy” rating and set a $9.00 price objective on shares of ImmunoGen in a research report on Monday, August 7th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $5.00 price objective on shares of ImmunoGen in a research report on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $7.72.
ImmunoGen Company Profile
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.
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