Wrapmanager Inc. Sells 308 Shares of ImmunoGen, Inc. (IMGN)
Wrapmanager Inc. reduced its position in shares of ImmunoGen, Inc. (NASDAQ:IMGN) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,197 shares of the biotechnology company’s stock after selling 308 shares during the period. Wrapmanager Inc.’s holdings in ImmunoGen were worth $115,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in IMGN. JPMorgan Chase & Co. boosted its position in shares of ImmunoGen by 37,346.0% in the first quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock worth $725,000 after buying an additional 186,730 shares during the last quarter. Stifel Financial Corp boosted its position in shares of ImmunoGen by 14.2% in the first quarter. Stifel Financial Corp now owns 103,815 shares of the biotechnology company’s stock worth $382,000 after buying an additional 12,907 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of ImmunoGen by 8.2% in the first quarter. Neuberger Berman Group LLC now owns 47,943 shares of the biotechnology company’s stock worth $186,000 after buying an additional 3,616 shares during the last quarter. Creative Planning boosted its position in shares of 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 last quarter. Finally, Norges Bank acquired a new position in shares of ImmunoGen during the fourth quarter worth approximately $3,123,000. 74.69% of the stock is currently owned by institutional investors and hedge funds.
ImmunoGen, Inc. (NASDAQ IMGN) opened at 6.12 on Thursday. The stock’s market capitalization is $548.33 million. The company has a 50-day moving average of $6.36 and a 200-day moving average of $4.51. ImmunoGen, Inc. has a 52-week low of $1.51 and a 52-week high of $8.04.
ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The company had revenue of $39.02 million during the quarter, compared to analyst estimates of $30.59 million. During the same period in the prior year, the business earned ($0.53) earnings per share. ImmunoGen’s quarterly revenue was up 426.6% on a year-over-year basis. Equities research analysts expect that ImmunoGen, Inc. will post ($0.84) EPS for the current year.
IMGN has been the topic of a number of recent research reports. Leerink Swann raised shares of ImmunoGen from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $3.53 to $3.90 in a report on Wednesday, April 19th. Zacks Investment Research cut shares of ImmunoGen from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Royal Bank Of Canada set a $5.00 target price on shares of ImmunoGen and gave the company a “hold” rating in a report on Monday, June 26th. BidaskClub cut shares of ImmunoGen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Canaccord Genuity set a $8.00 target price on shares of ImmunoGen and gave the company a “buy” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. ImmunoGen has a consensus rating of “Hold” and a consensus target price of $7.72.
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.
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