ImmunoGen, Inc. (NASDAQ:IMGN) shares dropped 7% on Thursday after an insider sold shares in the company. The stock traded as low as $10.69 and last traded at $10.86. Approximately 4,158,771 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 3,422,996 shares. The stock had previously closed at $11.68.
Specifically, Director Daniel M. Junius sold 46,667 shares of the company’s 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 sale, the director now directly owns 243,367 shares in the company, valued at approximately $2,436,103.67. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark J. Enyedy sold 67,717 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $10.87, for a total value of $736,083.79. Following the sale, the chief executive officer now owns 532,383 shares of the company’s stock, valued at $5,787,003.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,834 shares of company stock valued at $2,118,633. Corporate insiders own 6.51% of the company’s stock.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded ImmunoGen from a “hold” rating to a “sell” rating in a research report on Friday. ValuEngine upgraded ImmunoGen from a “sell” rating to a “hold” rating in a research report on Thursday. HC Wainwright set a $18.00 price objective on ImmunoGen and gave the stock a “buy” rating in a research report on Monday, February 12th. BidaskClub upgraded ImmunoGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $12.00 price objective on shares of ImmunoGen in a research report on Thursday, February 8th. Two research analysts have 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 stock. ImmunoGen has a consensus rating of “Buy” and an average price target of $9.10.
The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of -0.03. The company has a market cap of $1,480.00, a PE ratio of -10.97 and a beta of 2.50.
ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, February 9th. The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $39.40 million during the quarter, compared to analysts’ expectations of $39.62 million. The company’s revenue was up 185.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.39) EPS. analysts predict that ImmunoGen, Inc. will post -1.05 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of IMGN. BlackRock Inc. raised its position in ImmunoGen by 54.7% in the fourth quarter. BlackRock Inc. now owns 8,470,097 shares of the biotechnology company’s stock valued at $54,294,000 after purchasing an additional 2,996,116 shares during the last quarter. Redmile Group LLC raised its position in ImmunoGen by 35.3% in the fourth quarter. Redmile Group LLC now owns 10,906,962 shares of the biotechnology company’s stock valued at $69,914,000 after purchasing an additional 2,845,465 shares during the last quarter. State Street Corp raised its position in ImmunoGen by 159.1% in the second quarter. State Street Corp now owns 4,141,583 shares of the biotechnology company’s stock valued at $29,450,000 after purchasing an additional 2,542,876 shares during the last quarter. Two Sigma Investments LP raised its position in ImmunoGen by 168.9% in the fourth quarter. Two Sigma Investments LP now owns 1,020,089 shares of the biotechnology company’s stock valued at $6,539,000 after purchasing an additional 640,669 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in ImmunoGen in the fourth quarter valued at about $3,805,000. Hedge funds and other institutional investors own 70.99% of the company’s stock.
TRADEMARK VIOLATION WARNING: “ImmunoGen (IMGN) Shares Down 7% on Insider Selling” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://www.dispatchtribunal.com/2018/02/24/immunogen-imgn-shares-down-7-on-insider-selling.html.
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.
Receive News & Ratings for ImmunoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen and related companies with MarketBeat.com's FREE daily email newsletter.