Fmr LLC Boosts Stake in ImmunoGen, Inc. (IMGN)

FMR LLC grew its position in ImmunoGen, Inc. (NASDAQ:IMGN) by 598.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,605,285 shares of the biotechnology company’s stock after acquiring an additional 4,803,256 shares during the quarter. FMR LLC owned about 6.43% of ImmunoGen worth $39,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IMGN. Envestnet Asset Management Inc. increased its holdings in shares of ImmunoGen by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 27,761 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 743 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of ImmunoGen by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock valued at $2,360,000 after purchasing an additional 1,919 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of ImmunoGen by 1.0% in the second quarter. Fisher Asset Management LLC now owns 256,206 shares of the biotechnology company’s stock valued at $1,822,000 after purchasing an additional 2,530 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of ImmunoGen by 7.7% in the first quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock valued at $149,000 after purchasing an additional 2,753 shares during the last quarter. Finally, American International Group Inc. increased its holdings in shares of ImmunoGen by 7.1% in the first quarter. American International Group Inc. now owns 51,863 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 3,418 shares during the last quarter. Institutional investors and hedge funds own 72.85% of the company’s stock.

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Several research firms have issued reports on IMGN. Canaccord Genuity reissued a “buy” rating and set a $10.00 target price (up previously from $8.00) on shares of ImmunoGen in a research note on Wednesday, August 30th. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $5.00 price objective on shares of ImmunoGen in a research note on Monday, September 25th. ValuEngine cut ImmunoGen from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Finally, Leerink Swann reaffirmed a “buy” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $8.05.

In related news, VP Craig Barrows sold 37,050 shares of ImmunoGen stock in a transaction 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 transaction, the vice president now owns 51,100 shares in the company, valued at approximately $347,991. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.51% of the company’s stock.

Shares of ImmunoGen, Inc. (NASDAQ:IMGN) opened at 5.69 on Friday. The firm’s 50-day moving average price is $6.74 and its 200-day moving average price is $5.80. The stock’s market capitalization is $509.81 million. ImmunoGen, Inc. has a one year low of $1.51 and a one year high of $8.84.

ImmunoGen (NASDAQ:IMGN) last announced its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.07. The firm had revenue of $39.02 million during the quarter, compared to the consensus estimate of $30.59 million. The business’s revenue was up 426.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.53) EPS. Equities research analysts anticipate that ImmunoGen, Inc. will post ($0.72) EPS for the current fiscal year.

ImmunoGen 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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