ImmunoGen (NASDAQ:IMGN) CFO David Brannon Johnston sold 10,000 shares of ImmunoGen stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $11.53, for a total value of $115,300.00. Following the sale, the chief financial officer now directly owns 190,690 shares of the company’s stock, valued at approximately $2,198,655.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
David Brannon Johnston also recently made the following trade(s):
- On Wednesday, February 21st, David Brannon Johnston sold 21,060 shares of ImmunoGen stock. The shares were sold at an average price of $10.87, for a total value of $228,922.20.
Shares of ImmunoGen stock traded down $0.33 on Friday, hitting $9.99. 2,321,016 shares of the company traded hands, compared to its average volume of 3,678,901. The company has a debt-to-equity ratio of -0.11, a quick ratio of 4.94 and a current ratio of 4.95. ImmunoGen has a 52 week low of $2.84 and a 52 week high of $13.41. The company has a market capitalization of $1,370.98, a PE ratio of -13.32 and a beta of 2.17.
ImmunoGen (NASDAQ:IMGN) last released its quarterly 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 for the quarter, compared to analyst estimates of $39.62 million. The company’s revenue was up 185.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.39) earnings per share. analysts forecast that ImmunoGen will post -1.09 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of ImmunoGen by 25.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,285 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 6,459 shares during the period. MetLife Investment Advisors LLC acquired a new position in shares of ImmunoGen during the 4th quarter worth about $295,000. Endurant Capital Management LP grew its stake in ImmunoGen by 168.5% during the 4th quarter. Endurant Capital Management LP now owns 210,800 shares of the biotechnology company’s stock valued at $1,351,000 after acquiring an additional 132,300 shares in the last quarter. Redmile Group LLC grew its stake in ImmunoGen by 35.3% during the 4th quarter. Redmile Group LLC now owns 10,906,962 shares of the biotechnology company’s stock valued at $69,914,000 after acquiring an additional 2,845,465 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in ImmunoGen by 35.0% during the 4th quarter. Macquarie Group Ltd. now owns 1,147,300 shares of the biotechnology company’s stock valued at $7,354,000 after acquiring an additional 297,300 shares in the last quarter. 78.25% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. ValuEngine raised ImmunoGen from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. Royal Bank of Canada increased their price target on ImmunoGen to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 21st. Cantor Fitzgerald set a $5.00 price target on ImmunoGen and gave the stock a “hold” rating in a research note on Sunday, March 25th. HC Wainwright set a $18.00 price objective on ImmunoGen and gave the company a “buy” rating in a research report on Monday, March 26th. Finally, Zacks Investment Research upgraded ImmunoGen from a “sell” rating to a “hold” rating in a research report on Monday, March 19th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. ImmunoGen currently has an average rating of “Buy” and a consensus target price of $10.79.
COPYRIGHT VIOLATION NOTICE: “ImmunoGen (IMGN) CFO Sells $115,300.00 in Stock” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.dispatchtribunal.com/2018/04/07/immunogen-inc-imgn-cfo-david-brannon-johnston-sells-10000-shares.html.
ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.
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