ImmunoGen, Inc. (NASDAQ:IMGN) shares reached a new 52-week low on Thursday . The stock traded as low as $5.11 and last traded at $5.51, with a volume of 97704 shares traded. The stock had previously closed at $5.54.
IMGN has been the topic of a number of research analyst reports. BidaskClub raised ImmunoGen from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 14th. Zacks Investment Research upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a report on Monday, August 27th. Piper Jaffray Companies assumed coverage on shares of ImmunoGen in a report on Thursday, September 6th. They issued an “overweight” rating for the company. Guggenheim assumed coverage on shares of ImmunoGen in a report on Monday, September 17th. They set a “buy” rating for the company. Finally, ValuEngine downgraded shares of ImmunoGen from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.60.
The stock has a market capitalization of $815.53 million, a price-to-earnings ratio of -7.12 and a beta of 2.56. The company has a current ratio of 4.59, a quick ratio of 4.56 and a debt-to-equity ratio of 0.04.
In other news, VP Anna Berkenblit sold 5,851 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $8.00, for a total value of $46,808.00. Following the transaction, the vice president now directly owns 132,769 shares of the company’s stock, valued at $1,062,152. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Alan Goldberg purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was acquired at an average cost of $5.76 per share, for a total transaction of $172,800.00. Following the completion of the purchase, the director now owns 53,800 shares of the company’s stock, valued at approximately $309,888. The disclosure for this purchase can be found here. 4.44% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in IMGN. Principal Financial Group Inc. lifted its position in shares of ImmunoGen by 13.6% during the 1st quarter. Principal Financial Group Inc. now owns 87,202 shares of the biotechnology company’s stock worth $918,000 after buying an additional 10,440 shares during the last quarter. Bank of Montreal Can grew its stake in shares of ImmunoGen by 14,391.1% during the 2nd quarter. Bank of Montreal Can now owns 96,076 shares of the biotechnology company’s stock worth $935,000 after purchasing an additional 95,413 shares during the period. Amalgamated Bank grew its stake in shares of ImmunoGen by 46.3% during the 2nd quarter. Amalgamated Bank now owns 19,529 shares of the biotechnology company’s stock worth $190,000 after purchasing an additional 6,183 shares during the period. TD Asset Management Inc. grew its stake in ImmunoGen by 30.1% in the 2nd quarter. TD Asset Management Inc. now owns 72,333 shares of the biotechnology company’s stock valued at $704,000 after acquiring an additional 16,733 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in ImmunoGen by 371.7% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 82,155 shares of the biotechnology company’s stock valued at $799,000 after acquiring an additional 64,740 shares during the last quarter. Institutional investors and hedge funds own 83.73% of the company’s stock.
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About ImmunoGen (NASDAQ:IMGN)
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.
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