Aperio Group LLC boosted its stake in shares of ImmunoGen, Inc. (NASDAQ:IMGN) by 45.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,797 shares of the biotechnology company’s stock after purchasing an additional 5,221 shares during the period. Aperio Group LLC’s holdings in ImmunoGen were worth $119,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC raised its stake in ImmunoGen by 1.0% in the second quarter. Fisher Asset Management LLC now owns 256,206 shares of the biotechnology company’s stock valued at $1,822,000 after buying an additional 2,530 shares during the period. Clearbridge Investments LLC raised its stake in ImmunoGen by 6.5% in the first 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 period. Metropolitan Life Insurance Co. NY bought a new stake in ImmunoGen in the first quarter valued at approximately $257,000. Redmile Group LLC bought a new position in shares of ImmunoGen during the first quarter worth approximately $15,421,000. Finally, Bank of America Corp DE increased its stake in shares of ImmunoGen by 10.5% during the first quarter. Bank of America Corp DE now owns 1,339,518 shares of the biotechnology company’s stock worth $5,183,000 after purchasing an additional 127,695 shares during the period. Hedge funds and other institutional investors own 84.64% of the company’s stock.
Shares of ImmunoGen, Inc. (NASDAQ IMGN) opened at 6.55 on Friday. ImmunoGen, Inc. has a one year low of $1.51 and a one year high of $8.84. The firm’s market cap is $586.86 million. The firm has a 50 day moving average price of $6.59 and a 200-day moving average price of $5.25.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million during the quarter, compared to analysts’ expectations of $30.59 million. During the same period in the previous year, the company posted ($0.53) EPS. ImmunoGen’s revenue for the quarter was up 426.6% on a year-over-year basis. Analysts forecast that ImmunoGen, Inc. will post ($0.74) earnings per share for the current year.
A number of equities analysts have recently weighed in on IMGN shares. Jefferies Group LLC reiterated a “buy” rating and set a $6.00 target price on shares of ImmunoGen in a research note on Wednesday, June 28th. Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research note on Tuesday, June 27th. BidaskClub lowered ImmunoGen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Canaccord Genuity set a $8.00 target price on ImmunoGen and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Leerink Swann restated a “buy” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. ImmunoGen currently has an average rating of “Hold” and an average target price of $8.01.
In other news, VP Craig Barrows sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $6.95, for a total value of $101,470.00. Following the completion of the sale, the vice president now owns 51,100 shares of the company’s stock, valued at approximately $355,145. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.51% of the stock is currently owned by corporate 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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