Quantamental Technologies LLC Reduces Stock Position in ImmunoGen, Inc. (NASDAQ:IMGN)

Posted by on Mar 12th, 2023

Quantamental Technologies LLC cut its holdings in ImmunoGen, Inc. (NASDAQ:IMGN – Get Rating) by 25.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,959 shares of the biotechnology company’s stock after selling 4,500 shares during the period. Quantamental Technologies LLC’s holdings in ImmunoGen were worth $62,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Metropolitan Life Insurance Co NY lifted its stake in ImmunoGen by 26.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 12,932 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 2,738 shares during the last quarter. Blair William & Co. IL raised its holdings in ImmunoGen by 0.5% during the first quarter. Blair William & Co. IL now owns 538,410 shares of the biotechnology company’s stock worth $2,563,000 after purchasing an additional 2,925 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of ImmunoGen by 11.4% during the 3rd quarter. WINTON GROUP Ltd now owns 30,882 shares of the biotechnology company’s stock worth $148,000 after buying an additional 3,150 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of ImmunoGen by 4.4% in the 1st quarter. Mackenzie Financial Corp now owns 80,816 shares of the biotechnology company’s stock valued at $385,000 after buying an additional 3,370 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of ImmunoGen by 20.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 26,421 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 4,548 shares during the last quarter. 89.13% of the stock is owned by hedge funds and other institutional investors.

ImmunoGen Trading Down 6.7 %

Shares of IMGN stock opened at $3.78 on Friday. The company has a market capitalization of $854.45 million, a P/E ratio of -4.30 and a beta of 0.94. The business’s 50 day moving average is $4.39 and its two-hundred day moving average is $5.03. ImmunoGen, Inc. has a twelve month low of $3.10 and a twelve month high of $6.63.

ImmunoGen (NASDAQ:IMGN – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The biotechnology company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. The firm had revenue of $41.17 million for the quarter, compared to analyst estimates of $17.18 million. ImmunoGen had a negative net margin of 204.93% and a negative return on equity of 100.18%. ImmunoGen’s quarterly revenue was up 47.1% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. As a group, equities analysts predict that ImmunoGen, Inc. will post -0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IMGN. Guggenheim set a $22.00 price target on shares of ImmunoGen in a research report on Thursday, November 17th. Barclays upped their target price on ImmunoGen from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Tuesday, November 15th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of ImmunoGen in a research report on Thursday, March 2nd. Truist Financial started coverage on ImmunoGen in a report on Monday, November 21st. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Canaccord Genuity Group lifted their target price on shares of ImmunoGen from $12.00 to $15.00 in a report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, ImmunoGen has a consensus rating of “Hold” and an average price target of $12.29.

About ImmunoGen

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ImmunoGen, Inc engages in the discovery and development of antibody-drug conjugates to improve outcomes for cancer patients. Its pipeline includes Mirvetuximab Soravtansine, IMGN632, IMGC936, and IMGN151. The company was founded on March 27, 1981 and is headquartered in Waltham, MA.

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Institutional Ownership by Quarter for ImmunoGen (NASDAQ:IMGN)

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