California State Teachers Retirement System Acquires 22,789 Shares of ImmunoGen (IMGN)

California State Teachers Retirement System raised its holdings in ImmunoGen (NASDAQ:IMGN) by 16.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 157,447 shares of the biotechnology company’s stock after buying an additional 22,789 shares during the period. California State Teachers Retirement System’s holdings in ImmunoGen were worth $1,009,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its stake 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 period. Franklin Resources Inc. increased its stake in ImmunoGen by 7.0% in the fourth quarter. Franklin Resources Inc. now owns 3,006,600 shares of the biotechnology company’s stock valued at $19,272,000 after purchasing an additional 195,700 shares during the period. Wells Fargo & Company MN increased its stake in ImmunoGen by 2.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,558,852 shares of the biotechnology company’s stock valued at $9,993,000 after purchasing an additional 33,066 shares during the period. Renaissance Technologies LLC increased its stake in ImmunoGen by 108.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,093,240 shares of the biotechnology company’s stock valued at $7,008,000 after purchasing an additional 568,900 shares during the period. Finally, Two Sigma Investments LP increased its stake 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 period. Institutional investors own 78.25% of the company’s stock.

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A number of research analysts have commented on IMGN shares. ValuEngine lowered shares of ImmunoGen from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. HC Wainwright set a $18.00 price target on shares of ImmunoGen and gave the stock a “buy” rating in a research note on Monday, February 12th. Zacks Investment Research upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a research note on Monday, March 19th. Leerink Swann reiterated an “outperform” rating on shares of ImmunoGen in a research note on Monday, March 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of ImmunoGen in a research note on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $10.79.

In related news, VP Richard J. Gregory sold 34,486 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $10.88, for a total transaction of $375,207.68. Following the sale, the vice president now owns 239,094 shares of the company’s stock, valued at $2,601,342.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel M. Junius sold 46,667 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $10.01, for a total transaction of $467,136.67. Following the sale, the director now directly owns 243,367 shares in the company, valued at approximately $2,436,103.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,834 shares of company stock worth $2,534,433. Company insiders own 6.51% of the company’s stock.

Shares of ImmunoGen stock opened at $9.99 on Friday. ImmunoGen has a 52-week low of $2.84 and a 52-week high of $13.41. The company has a current ratio of 4.95, a quick ratio of 4.94 and a debt-to-equity ratio of -0.11. The stock has a market cap of $1,370.98, a PE ratio of -13.32 and a beta of 2.17.

ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings results on Friday, February 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $39.40 million for the quarter, compared to analyst estimates of $39.62 million. During the same quarter last year, the business posted ($0.39) EPS. The firm’s revenue for the quarter was up 185.5% on a year-over-year basis. equities analysts anticipate that ImmunoGen will post -1.09 earnings per share for the current fiscal year.

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ImmunoGen Profile

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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Institutional Ownership by Quarter for ImmunoGen (NASDAQ:IMGN)

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