Royal Bank of Canada grew its holdings in ImmunoGen, Inc. (NASDAQ:IMGN) by 789.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 154,432 shares of the biotechnology company’s stock after buying an additional 137,061 shares during the quarter. Royal Bank of Canada owned approximately 0.17% of ImmunoGen worth $1,098,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its stake in shares of ImmunoGen by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 27,761 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 743 shares during the period. Gould Asset Management LLC CA purchased a new position in shares of ImmunoGen in the 2nd quarter valued at approximately $107,000. Aperio Group LLC lifted its stake in shares of ImmunoGen by 45.1% in the 2nd quarter. Aperio Group LLC now owns 16,797 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 5,221 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of ImmunoGen by 7.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock valued at $149,000 after purchasing an additional 2,753 shares during the period. Finally, American International Group Inc. lifted its stake in shares of ImmunoGen by 7.1% in the 1st quarter. American International Group Inc. now owns 51,863 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 3,418 shares during the period. Institutional investors and hedge funds own 73.18% of the company’s stock.
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ImmunoGen, Inc. (IMGN) opened at $6.18 on Monday. ImmunoGen, Inc. has a 52-week low of $1.53 and a 52-week high of $8.84. The company has a debt-to-equity ratio of -0.56, a current ratio of 2.40 and a quick ratio of 2.34.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, November 3rd. The biotechnology company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.42). The company had revenue of $8.50 million during the quarter, compared to the consensus estimate of $26.09 million. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.51) earnings per share. equities analysts anticipate that ImmunoGen, Inc. will post -0.95 earnings per share for the current fiscal year.
A number of research analysts have recently commented on IMGN shares. BidaskClub cut ImmunoGen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Cantor Fitzgerald set a $5.00 target price on ImmunoGen and gave the company a “hold” rating in a research note on Friday, July 28th. Canaccord Genuity set a $8.00 target price on ImmunoGen and gave the company a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $9.00 target price on shares of ImmunoGen in a research note on Monday, August 7th. Finally, Leerink Swann restated a “buy” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $7.83.
In other ImmunoGen news, VP Craig Barrows sold 14,600 shares of ImmunoGen stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total value of $101,470.00. Following the completion of the sale, the vice president now owns 51,100 shares of the company’s stock, valued at approximately $355,145. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.51% of the stock is currently owned by company insiders.
ImmunoGen Company Profile
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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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