ImmunoGen (NASDAQ:IMGN) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of ImmunoGen (NASDAQ:IMGN) in a research note issued on Thursday. The firm set a “hold” rating on the biotechnology company’s stock.

ImmunoGen Stock Performance

NASDAQ IMGN opened at $31.23 on Thursday. The company has a current ratio of 5.70, a quick ratio of 5.65 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $31.20 and its two-hundred day moving average price is $25.76. ImmunoGen has a 1 year low of $3.61 and a 1 year high of $31.25. The firm has a market capitalization of $8.32 billion, a P/E ratio of -100.74 and a beta of 1.18.

Hedge Funds Weigh In On ImmunoGen

Several large investors have recently modified their holdings of IMGN. Raymond James Financial Services Advisors Inc. raised its position in shares of ImmunoGen by 20.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,421 shares of the biotechnology company’s stock valued at $126,000 after purchasing an additional 4,548 shares during the period. Bank of New York Mellon Corp raised its position in shares of ImmunoGen by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 798,902 shares of the biotechnology company’s stock valued at $3,803,000 after purchasing an additional 52,243 shares during the period. MetLife Investment Management LLC grew its stake in shares of ImmunoGen by 55.4% in the first quarter. MetLife Investment Management LLC now owns 108,476 shares of the biotechnology company’s stock valued at $516,000 after acquiring an additional 38,679 shares in the last quarter. BlackRock Inc. grew its stake in shares of ImmunoGen by 10.6% in the first quarter. BlackRock Inc. now owns 16,432,933 shares of the biotechnology company’s stock valued at $78,225,000 after acquiring an additional 1,569,629 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of ImmunoGen by 0.5% in the first quarter. Blair William & Co. IL now owns 538,410 shares of the biotechnology company’s stock valued at $2,563,000 after acquiring an additional 2,925 shares in the last quarter. 90.50% of the stock is owned by institutional investors.

About ImmunoGen

ImmunoGen, Inc, a commercial-stage biotechnology company, focuses on developing and commercializing the antibody-drug conjugates (ADCs) for cancer patients. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), for the treatment of platinum-resistant ovarian cancer; and a cell-surface protein expressed in various epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers, as well as Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.