ImmunoGen, Inc. (IMGN) VP Craig Barrows Sells 37,050 Shares
ImmunoGen, Inc. (NASDAQ:IMGN) VP Craig Barrows sold 37,050 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $6.81, for a total value of $252,310.50. Following the completion of the transaction, the vice president now directly owns 51,100 shares of the company’s stock, valued at $347,991. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
ImmunoGen, Inc. (NASDAQ:IMGN) traded down 1.45% during midday trading on Friday, hitting $6.80. The stock had a trading volume of 5,935,568 shares. ImmunoGen, Inc. has a 12-month low of $1.51 and a 12-month high of $8.84. The company has a 50-day moving average price of $6.56 and a 200-day moving average price of $5.16. The company’s market cap is $609.26 million.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million for the quarter, compared to analysts’ expectations of $30.59 million. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. ImmunoGen’s revenue for the quarter was up 426.6% compared to the same quarter last year. Equities analysts anticipate that ImmunoGen, Inc. will post ($0.74) EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of ImmunoGen in the 2nd quarter valued at approximately $102,000. Envestnet Asset Management Inc. increased its holdings in shares of ImmunoGen by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 27,761 shares of the biotechnology company’s stock valued at $107,000 after acquiring an additional 743 shares during the last quarter. Gould Asset Management LLC CA bought a new stake in shares of ImmunoGen in the 2nd quarter valued at approximately $107,000. Intl Fcstone Inc. bought a new stake in shares of ImmunoGen in the 2nd quarter valued at approximately $115,000. Finally, Acadian Asset Management LLC bought a new stake in shares of ImmunoGen in the 1st quarter valued at approximately $117,000. Institutional investors and hedge funds own 84.66% of the company’s stock.
A number of equities analysts recently issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $6.00 price target on shares of ImmunoGen in a report on Wednesday, June 28th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $5.00 price target on shares of ImmunoGen in a report on Wednesday, May 24th. Canaccord Genuity set a $6.00 price target on ImmunoGen and gave the company a “buy” rating in a report on Friday, May 19th. Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a report on Tuesday, August 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of ImmunoGen in a report on Monday, June 26th. Two research analysts have rated the stock with a sell rating, three have assigned 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 $8.01.
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.
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