Anna Berkenblit Sells 5,851 Shares of ImmunoGen, Inc. (IMGN) Stock

ImmunoGen, Inc. (NASDAQ:IMGN) VP Anna Berkenblit sold 5,851 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $8.00, for a total transaction of $46,808.00. Following the completion of the sale, the vice president now directly owns 132,769 shares of the company’s stock, valued at approximately $1,062,152. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Anna Berkenblit also recently made the following trade(s):

  • On Monday, September 10th, Anna Berkenblit sold 5,851 shares of ImmunoGen stock. The shares were sold at an average price of $9.46, for a total transaction of $55,350.46.

Shares of NASDAQ:IMGN opened at $7.79 on Friday. ImmunoGen, Inc. has a 52 week low of $4.80 and a 52 week high of $13.41. The company has a current ratio of 5.76, a quick ratio of 5.73 and a debt-to-equity ratio of 0.02.

ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings data on Friday, July 27th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.02). The firm had revenue of $9.29 million for the quarter, compared to the consensus estimate of $14.12 million. During the same period last year, the company earned ($0.10) earnings per share. The firm’s quarterly revenue was down 76.2% compared to the same quarter last year. Equities research analysts predict that ImmunoGen, Inc. will post -1.22 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB increased its position in shares of ImmunoGen by 29.6% during the second quarter. Xact Kapitalforvaltning AB now owns 24,100 shares of the biotechnology company’s stock worth $234,000 after acquiring an additional 5,500 shares in the last quarter. Amalgamated Bank increased its position in shares of ImmunoGen by 46.3% during the second quarter. Amalgamated Bank now owns 19,529 shares of the biotechnology company’s stock worth $190,000 after acquiring an additional 6,183 shares in the last quarter. United Services Automobile Association increased its position in shares of ImmunoGen by 39.1% during the second quarter. United Services Automobile Association now owns 22,945 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 6,455 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of ImmunoGen by 75.1% during the second quarter. Great West Life Assurance Co. Can now owns 15,767 shares of the biotechnology company’s stock worth $153,000 after acquiring an additional 6,763 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of ImmunoGen by 1.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 531,076 shares of the biotechnology company’s stock worth $5,587,000 after acquiring an additional 8,112 shares in the last quarter. 83.77% of the stock is owned by institutional investors.

IMGN has been the subject of several recent analyst reports. ValuEngine downgraded shares of ImmunoGen from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. Zacks Investment Research raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Guggenheim initiated coverage on shares of ImmunoGen in a research note on Monday, September 17th. They issued a “buy” rating for the company. Cowen reaffirmed a “hold” rating on shares of ImmunoGen in a research note on Friday, July 27th. Finally, BidaskClub downgraded shares of ImmunoGen from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ImmunoGen has an average rating of “Buy” and an average target price of $13.10.

About ImmunoGen

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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