Clearbridge Investments LLC reduced its position in ImmunoGen, Inc. (NASDAQ:IMGN) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,071,365 shares of the biotechnology company’s stock after selling 374,246 shares during the quarter. Clearbridge Investments LLC owned about 8.37% of ImmunoGen worth $70,967,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IMGN. Parametric Portfolio Associates LLC raised its stake in ImmunoGen by 130.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 88,553 shares of the biotechnology company’s stock valued at $630,000 after purchasing an additional 50,061 shares during the last quarter. Voya Investment Management LLC raised its stake in ImmunoGen by 10.0% in the 2nd quarter. Voya Investment Management LLC now owns 45,066 shares of the biotechnology company’s stock valued at $320,000 after purchasing an additional 4,105 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in ImmunoGen in the 2nd quarter valued at $126,000. Dynamic Technology Lab Private Ltd acquired a new position in ImmunoGen in the 3rd quarter valued at $397,000. Finally, Alliance Wealth Management Group raised its stake in ImmunoGen by 100.0% in the 3rd quarter. Alliance Wealth Management Group now owns 20,000 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 10,000 shares during the last quarter. 78.60% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. ValuEngine raised ImmunoGen from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Zacks Investment Research cut ImmunoGen from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. BidaskClub upgraded ImmunoGen from a “buy” rating to a “strong-buy” rating in a report on Friday, February 9th. HC Wainwright assumed coverage on ImmunoGen in a report on Wednesday, January 31st. They issued a “buy” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $12.00 target price on shares of ImmunoGen in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. ImmunoGen currently has an average rating of “Buy” and a consensus price target of $10.21.
ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, February 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The business had revenue of $39.40 million during the quarter, compared to the consensus estimate of $39.62 million. The firm’s quarterly revenue was up 185.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.39) EPS. equities research analysts anticipate that ImmunoGen, Inc. will post -1.09 earnings per share for the current year.
In other news, Director Daniel M. Junius sold 46,667 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $10.01, for a total transaction of $467,136.67. Following the completion of the transaction, the director now directly owns 243,367 shares in the company, valued at approximately $2,436,103.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel M. Junius sold 25,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $11.68, for a total value of $292,000.00. Following the transaction, the director now owns 196,700 shares of the company’s stock, valued at $2,297,456. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,834 shares of company stock valued at $2,118,633. 6.51% of the stock is owned by company insiders.
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ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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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