Keybank National Association OH trimmed its holdings in shares of ImmunoGen, Inc. (NASDAQ:IMGN – Free Report) by 52.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,365 shares of the biotechnology company’s stock after selling 17,159 shares during the quarter. Keybank National Association OH’s holdings in ImmunoGen were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Arizona State Retirement System grew its position in ImmunoGen by 3.9% during the fourth quarter. Arizona State Retirement System now owns 56,052 shares of the biotechnology company’s stock worth $278,000 after buying an additional 2,115 shares in the last quarter. Principal Financial Group Inc. grew its position in ImmunoGen by 4.1% during the first quarter. Principal Financial Group Inc. now owns 55,996 shares of the biotechnology company’s stock worth $215,000 after buying an additional 2,213 shares in the last quarter. Commonwealth Equity Services LLC grew its position in ImmunoGen by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 169,094 shares of the biotechnology company’s stock worth $838,000 after buying an additional 2,409 shares in the last quarter. Blair William & Co. IL grew its position 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 buying an additional 2,925 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in ImmunoGen by 13.7% during the first quarter. Chicago Partners Investment Group LLC now owns 25,482 shares of the biotechnology company’s stock worth $103,000 after purchasing an additional 3,076 shares during the last quarter. 92.79% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at ImmunoGen
In other ImmunoGen news, SVP Stacy Ann Coen sold 100,210 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $14.20, for a total transaction of $1,422,982.00. Following the completion of the transaction, the senior vice president now owns 10,960 shares of the company’s stock, valued at approximately $155,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ImmunoGen news, SVP Stacy Ann Coen sold 100,210 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $14.20, for a total transaction of $1,422,982.00. Following the completion of the transaction, the senior vice president now owns 10,960 shares of the company’s stock, valued at approximately $155,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Renee Lentini sold 148,277 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $17.55, for a total value of $2,602,261.35. Following the transaction, the insider now directly owns 22,843 shares of the company’s stock, valued at approximately $400,894.65. The disclosure for this sale can be found here. Insiders sold 1,353,068 shares of company stock valued at $22,414,102 in the last 90 days. Insiders own 5.07% of the company’s stock.
ImmunoGen Trading Down 2.2 %
ImmunoGen (NASDAQ:IMGN – Get Free Report) last released its earnings results on Monday, July 31st. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.14. The company had revenue of $83.20 million during the quarter, compared to analyst estimates of $49.15 million. ImmunoGen had a negative return on equity of 76.92% and a negative net margin of 96.02%. ImmunoGen’s revenue for the quarter was up 485.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) EPS. As a group, sell-side analysts forecast that ImmunoGen, Inc. will post -0.18 EPS for the current year.
Analysts Set New Price Targets
IMGN has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on ImmunoGen from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. HC Wainwright lifted their price target on ImmunoGen from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Truist Financial lifted their price target on ImmunoGen from $15.00 to $18.00 in a research note on Tuesday, June 6th. Piper Sandler raised ImmunoGen from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $6.00 to $16.00 in a research note on Wednesday, May 3rd. Finally, Canaccord Genuity Group lifted their price target on ImmunoGen from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, ImmunoGen currently has a consensus rating of “Moderate Buy” and an average price target of $21.13.
View Our Latest Research Report on IMGN
ImmunoGen Profile
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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