OxFORD Asset Management LLP bought a new stake in shares of ImmunoGen, Inc. (NASDAQ:IMGN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 71,166 shares of the biotechnology company’s stock, valued at approximately $506,000. OxFORD Asset Management LLP owned about 0.08% of ImmunoGen as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its holdings in ImmunoGen by 598.9% in the 2nd quarter. FMR LLC now owns 5,605,285 shares of the biotechnology company’s stock worth $39,854,000 after acquiring an additional 4,803,256 shares during the last quarter. Clearbridge Investments LLC raised its stake in ImmunoGen by 6.5% during the 1st quarter. Clearbridge Investments LLC now owns 14,428,856 shares of the biotechnology company’s stock valued at $55,840,000 after buying an additional 884,524 shares during the last quarter. EAM Investors LLC purchased a new stake in ImmunoGen during the 2nd quarter valued at $4,144,000. Candriam Luxembourg S.C.A. purchased a new stake in ImmunoGen during the 2nd quarter valued at $4,053,000. Finally, Ameriprise Financial Inc. purchased a new stake in ImmunoGen during the 1st quarter valued at $1,528,000. Hedge funds and other institutional investors own 72.85% of the company’s stock.
A number of brokerages have weighed in on IMGN. Zacks Investment Research lowered shares of ImmunoGen from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Canaccord Genuity reissued a “buy” rating and set a $10.00 price objective (up previously from $8.00) on shares of ImmunoGen in a research report on Wednesday, August 30th. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research report on Tuesday, August 29th. Royal Bank Of Canada raised shares of ImmunoGen from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $5.00 to $12.00 in a research report on Thursday, July 6th. Finally, Cantor Fitzgerald set a $5.00 price objective on shares of ImmunoGen and gave the company a “hold” rating in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $8.05.
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Shares of ImmunoGen, Inc. (NASDAQ IMGN) opened at 5.69 on Friday. The stock’s market capitalization is $509.81 million. ImmunoGen, Inc. has a 52-week low of $1.51 and a 52-week high of $8.84. The company has a 50-day moving average of $6.64 and a 200-day moving average of $5.81.
ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The firm had revenue of $39.02 million for 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 revenue for the quarter was up 426.6% on a year-over-year basis. Equities research analysts anticipate that ImmunoGen, Inc. will post ($0.72) EPS for the current year.
In other ImmunoGen news, VP Craig Barrows sold 14,600 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $6.95, for a total transaction of $101,470.00. Following the sale, the vice president now directly owns 51,100 shares of the company’s stock, valued at approximately $355,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.51% of the stock is owned by company insiders.
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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