ImmunoGen, Inc. (IMGN) Shares Bought by Raymond James & Associates
Raymond James & Associates grew its holdings in shares of ImmunoGen, Inc. (NASDAQ:IMGN) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 648,758 shares of the biotechnology company’s stock after buying an additional 23,459 shares during the period. Raymond James & Associates’ holdings in ImmunoGen were worth $6,312,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of IMGN. FMR LLC increased its stake in shares of ImmunoGen by 34.0% during the second quarter. FMR LLC now owns 8,704,234 shares of the biotechnology company’s stock valued at $84,692,000 after buying an additional 2,208,796 shares during the period. BlackRock Inc. increased its stake in shares of ImmunoGen by 24.9% during the second quarter. BlackRock Inc. now owns 10,436,350 shares of the biotechnology company’s stock valued at $101,546,000 after buying an additional 2,079,732 shares during the period. Renaissance Technologies LLC increased its stake in shares of ImmunoGen by 35.8% during the second quarter. Renaissance Technologies LLC now owns 6,525,300 shares of the biotechnology company’s stock valued at $63,491,000 after buying an additional 1,719,360 shares during the period. PointState Capital LP purchased a new position in shares of ImmunoGen during the first quarter valued at approximately $17,608,000. Finally, Jennison Associates LLC purchased a new position in shares of ImmunoGen during the second quarter valued at approximately $11,332,000. 83.76% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ IMGN opened at $9.40 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.73 and a current ratio of 5.76. ImmunoGen, Inc. has a twelve month low of $4.80 and a twelve month high of $13.41. The company has a market cap of $1.38 billion, a P/E ratio of -12.53 and a beta of 1.95.
In related news, VP Anna Berkenblit sold 5,851 shares of ImmunoGen stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $9.46, for a total transaction of $55,350.46. Following the sale, the vice president now directly owns 138,620 shares in the company, valued at $1,311,345.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.44% of the company’s stock.
Several equities analysts have recently issued reports on IMGN shares. Zacks Investment Research cut ImmunoGen from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. BidaskClub raised ImmunoGen from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Guggenheim started coverage on ImmunoGen in a research note on Monday, September 17th. They set a “buy” rating on the stock. Piper Jaffray Companies started coverage on ImmunoGen in a research note on Thursday, September 6th. They set an “overweight” rating on the stock. Finally, ValuEngine cut ImmunoGen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 28th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $12.42.
ImmunoGen Company 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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