Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ImmunoGen (NASDAQ:IMGN) by 198.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,144 shares of the biotechnology company’s stock after purchasing an additional 7,411 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ImmunoGen were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in IMGN. BlackRock Inc. grew its position in ImmunoGen by 54.7% in the fourth quarter. BlackRock Inc. now owns 8,470,097 shares of the biotechnology company’s stock valued at $54,294,000 after purchasing an additional 2,996,116 shares in the last quarter. Redmile Group LLC grew its position in shares of ImmunoGen by 35.3% in the 4th quarter. Redmile Group LLC now owns 10,906,962 shares of the biotechnology company’s stock valued at $69,914,000 after acquiring an additional 2,845,465 shares during the period. Two Sigma Investments LP grew its position in shares of ImmunoGen by 168.9% in the 4th quarter. Two Sigma Investments LP now owns 1,020,089 shares of the biotechnology company’s stock valued at $6,539,000 after acquiring an additional 640,669 shares during the period. Two Sigma Advisers LP bought a new position in shares of ImmunoGen in the 4th quarter valued at about $3,805,000. Finally, Renaissance Technologies LLC grew its position in shares of ImmunoGen by 108.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,093,240 shares of the biotechnology company’s stock valued at $7,008,000 after acquiring an additional 568,900 shares during the period. 77.65% of the stock is owned by institutional investors and hedge funds.
In related news, CFO David Brannon Johnston sold 21,060 shares of ImmunoGen stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $10.87, for a total transaction of $228,922.20. Following the completion of the sale, the chief financial officer now owns 180,690 shares of the company’s stock, valued at approximately $1,964,100.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard J. Gregory sold 34,486 shares of ImmunoGen stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $10.88, for a total transaction of $375,207.68. Following the sale, the vice president now directly owns 239,094 shares of the company’s stock, valued at approximately $2,601,342.72. The disclosure for this sale can be found here. Insiders have sold a total of 158,263 shares of company stock valued at $1,756,014 in the last ninety days. 6.51% of the stock is currently owned by insiders.
Shares of IMGN stock opened at $10.27 on Tuesday. The stock has a market cap of $1.41 billion, a P/E ratio of -13.69 and a beta of 2.17. The company has a quick ratio of 3.73, a current ratio of 3.74 and a debt-to-equity ratio of -0.06. ImmunoGen has a 52 week low of $4.26 and a 52 week high of $13.41.
ImmunoGen (NASDAQ:IMGN) last announced its earnings results on Friday, May 4th. The biotechnology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The company had revenue of $19.80 million for the quarter, compared to analyst estimates of $15.04 million. The business’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) earnings per share. research analysts forecast that ImmunoGen will post -1.13 EPS for the current year.
A number of research analysts have recently commented on the stock. Cantor Fitzgerald set a $5.00 price objective on shares of ImmunoGen and gave the company a “hold” rating in a research report on Sunday, April 8th. HC Wainwright assumed coverage on shares of ImmunoGen in a research report on Wednesday, January 31st. They issued a “buy” rating for the company. ValuEngine raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. BidaskClub downgraded shares of ImmunoGen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 9th. Finally, Cowen reissued a “hold” rating on shares of ImmunoGen in a research report on Thursday, May 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. ImmunoGen has an average rating of “Buy” and an average target price of $12.21.
ImmunoGen Company Profile
ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.
Receive News & Ratings for ImmunoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen and related companies with MarketBeat.com's FREE daily email newsletter.