Bank of New York Mellon Corp lowered its stake in ImmunoGen, Inc. (NASDAQ:IMGN) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 548,486 shares of the biotechnology company’s stock after selling 29,354 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of ImmunoGen worth $4,195,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its position in shares of ImmunoGen by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock worth $2,360,000 after purchasing an additional 1,919 shares in the last quarter. Royal Bank of Canada grew its position in shares of ImmunoGen by 789.0% during the second quarter. Royal Bank of Canada now owns 154,432 shares of the biotechnology company’s stock worth $1,098,000 after purchasing an additional 137,061 shares in the last quarter. Chicago Equity Partners LLC grew its position in shares of ImmunoGen by 124.7% during the third quarter. Chicago Equity Partners LLC now owns 490,635 shares of the biotechnology company’s stock worth $3,753,000 after purchasing an additional 272,315 shares in the last quarter. OxFORD Asset Management LLP purchased a new stake in shares of ImmunoGen during the second quarter worth about $506,000. Finally, Bank of Nova Scotia purchased a new stake in shares of ImmunoGen during the second quarter worth about $591,000. 68.02% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on IMGN. BidaskClub upgraded ImmunoGen from a “hold” rating to a “buy” rating in a research report on Thursday. Cantor Fitzgerald restated a “hold” rating and set a $5.00 price target on shares of ImmunoGen in a report on Monday, September 25th. ValuEngine cut ImmunoGen from a “hold” rating to a “sell” rating in a report on Thursday, September 21st. Jefferies Group restated a “buy” rating and set a $9.00 price target on shares of ImmunoGen in a report on Thursday, October 12th. Finally, Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $7.83.
ImmunoGen, Inc. (NASDAQ:IMGN) opened at $8.26 on Thursday. The firm has a market capitalization of $1,280.00, a P/E ratio of -6.35 and a beta of 2.20. ImmunoGen, Inc. has a 1-year low of $2.20 and a 1-year high of $8.84. The company has a debt-to-equity ratio of -0.03, a quick ratio of 2.78 and a current ratio of 2.81.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, November 3rd. The biotechnology company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.42). The firm had revenue of $8.50 million during the quarter, compared to analyst estimates of $26.09 million. ImmunoGen’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm earned ($0.51) earnings per share. equities research analysts expect that ImmunoGen, Inc. will post -0.97 earnings per share for the current fiscal year.
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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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