ImmunoGen, Inc. (NASDAQ:IMGN)’s share price traded down 3% on Thursday . The stock traded as low as $2.55 and last traded at $2.61. 2,800,424 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 4,008,247 shares. The stock had previously closed at $2.69.

Several equities analysts have recently weighed in on the stock. BidaskClub cut shares of ImmunoGen from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Morgan Stanley upgraded shares of ImmunoGen from an “underweight” rating to an “equal weight” rating and set a $2.68 price objective on the stock in a research note on Tuesday. Svb Leerink cut shares of ImmunoGen from an “outperform” rating to a “market perform” rating in a research note on Monday. HC Wainwright cut shares of ImmunoGen from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $3.50 in a research note on Monday. Finally, Leerink Swann cut shares of ImmunoGen from an “outperform” rating to a “market perform” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.28.

The company has a debt-to-equity ratio of 0.04, a current ratio of 4.59 and a quick ratio of 4.56.

ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, February 8th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.05. The company had revenue of $13.79 million during the quarter, compared to analyst estimates of $12.42 million. ImmunoGen had a negative net margin of 311.94% and a negative return on equity of 499.19%. The firm’s quarterly revenue was down 65.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) EPS. As a group, research analysts anticipate that ImmunoGen, Inc. will post -1.34 earnings per share for the current fiscal year.

In related news, CEO Mark J. Enyedy sold 51,070 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $5.60, for a total value of $285,992.00. Following the completion of the sale, the chief executive officer now directly owns 483,768 shares of the company’s stock, valued at approximately $2,709,100.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas Ryll sold 11,495 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $5.60, for a total transaction of $64,372.00. Following the completion of the sale, the vice president now directly owns 87,184 shares of the company’s stock, valued at $488,230.40. The disclosure for this sale can be found here. Insiders sold a total of 65,603 shares of company stock valued at $366,374 over the last three months. 4.44% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its holdings in ImmunoGen by 6.3% in the 4th quarter. LPL Financial LLC now owns 33,907 shares of the biotechnology company’s stock worth $163,000 after acquiring an additional 2,008 shares in the last quarter. Legal & General Group Plc increased its holdings in ImmunoGen by 11.6% in the 3rd quarter. Legal & General Group Plc now owns 22,951 shares of the biotechnology company’s stock worth $218,000 after acquiring an additional 2,392 shares in the last quarter. Principal Financial Group Inc. increased its holdings in ImmunoGen by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 114,173 shares of the biotechnology company’s stock worth $548,000 after acquiring an additional 3,696 shares in the last quarter. Natixis Advisors L.P. increased its holdings in ImmunoGen by 4.5% in the 4th quarter. Natixis Advisors L.P. now owns 113,727 shares of the biotechnology company’s stock worth $545,000 after acquiring an additional 4,917 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in ImmunoGen by 0.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,202,952 shares of the biotechnology company’s stock worth $11,392,000 after acquiring an additional 7,316 shares in the last quarter. 83.94% of the stock is owned by institutional investors.

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ImmunoGen Company Profile (NASDAQ:IMGN)

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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