SG Americas Securities LLC increased its holdings in shares of ImmunoGen, Inc. (NASDAQ:IMGN) by 75.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,416 shares of the biotechnology company’s stock after buying an additional 7,937 shares during the period. SG Americas Securities LLC’s holdings in ImmunoGen were worth $118,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. purchased a new stake in ImmunoGen during the 2nd quarter worth approximately $126,000. Virginia Retirement Systems ET AL purchased a new stake in ImmunoGen during the 3rd quarter worth approximately $136,000. Cubist Systematic Strategies LLC purchased a new stake in ImmunoGen during the 3rd quarter worth approximately $143,000. Alliance Wealth Management Group increased its stake in ImmunoGen by 100.0% during the 3rd quarter. Alliance Wealth Management Group now owns 20,000 shares of the biotechnology company’s stock worth $154,000 after buying an additional 10,000 shares during the period. Finally, TD Asset Management Inc. purchased a new stake in ImmunoGen during the 3rd quarter worth approximately $286,000. 78.34% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO David Brannon Johnston sold 21,060 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $10.87, for a total value of $228,922.20. Following the completion of the transaction, the chief financial officer now owns 180,690 shares in the company, valued at approximately $1,964,100.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark J. Enyedy sold 67,717 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $10.87, for a total transaction of $736,083.79. Following the completion of the transaction, the chief executive officer now owns 532,383 shares of the company’s stock, valued at approximately $5,787,003.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,834 shares of company stock worth $2,118,633. Insiders own 6.51% of the company’s stock.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings data on Friday, February 9th. The biotechnology company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The business had revenue of $39.40 million for the quarter, compared to the consensus estimate of $39.62 million. During the same quarter in the previous year, the company posted ($0.39) earnings per share. The company’s revenue was up 185.5% on a year-over-year basis. analysts expect that ImmunoGen, Inc. will post -1.09 EPS for the current year.
IMGN has been the topic of several recent research reports. BidaskClub raised shares of ImmunoGen from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. HC Wainwright began coverage on shares of ImmunoGen in a research report on Wednesday, January 31st. They issued a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 price objective on shares of ImmunoGen in a research report on Thursday, February 8th. Zacks Investment Research downgraded shares of ImmunoGen from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, ValuEngine raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $10.21.
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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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