Nationwide Fund Advisors cut its position in ImmunoGen, Inc. (NASDAQ:IMGN) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,139 shares of the biotechnology company’s stock after selling 7,244 shares during the period. Nationwide Fund Advisors owned approximately 0.06% of ImmunoGen worth $194,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in ImmunoGen by 10.6% in the fourth quarter. Teachers Advisors LLC now owns 209,859 shares of the biotechnology company’s stock worth $428,000 after buying an additional 20,171 shares during the period. Creative Planning raised its stake in ImmunoGen by 116.4% in the first quarter. Creative Planning now owns 53,444 shares of the biotechnology company’s stock worth $207,000 after buying an additional 28,744 shares during the period. Federated Investors Inc. PA raised its stake in ImmunoGen by 69.6% in the fourth quarter. Federated Investors Inc. PA now owns 108,104 shares of the biotechnology company’s stock worth $221,000 after buying an additional 44,353 shares during the period. State Street Corp raised its stake in ImmunoGen by 3.1% in the fourth quarter. State Street Corp now owns 1,526,398 shares of the biotechnology company’s stock worth $3,115,000 after buying an additional 45,628 shares during the period. Finally, Norges Bank acquired a new stake in ImmunoGen during the fourth quarter worth $3,123,000. 73.73% of the stock is owned by institutional investors.

ImmunoGen, Inc. (IMGN) traded up 3.89% during trading on Friday, hitting $5.61. 1,484,502 shares of the stock traded hands. The company’s market cap is $489.05 million. ImmunoGen, Inc. has a 12 month low of $1.51 and a 12 month high of $8.04. The company’s 50 day moving average price is $6.27 and its 200 day moving average price is $4.27.

ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million during the quarter, compared to analyst estimates of $30.59 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. The firm’s revenue was up 426.6% compared to the same quarter last year. On average, equities research analysts anticipate that ImmunoGen, Inc. will post ($0.84) EPS for the current fiscal year.

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A number of research firms recently weighed in on IMGN. Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a research note on Saturday, May 6th. Royal Bank Of Canada set a $5.00 price target on shares of ImmunoGen and gave the company a “hold” rating in a research report on Saturday, May 6th. Canaccord Genuity set a $6.00 price target on shares of ImmunoGen and gave the company a “buy” rating in a research report on Saturday, May 6th. Jefferies Group LLC reissued a “buy” rating and set a $6.00 price target on shares of ImmunoGen in a research report on Wednesday, June 28th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $5.00 price target on shares of ImmunoGen in a research report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $7.01.

ImmunoGen Company Profile

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. 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.

Institutional Ownership by Quarter for ImmunoGen (NASDAQ:IMGN)

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