Alps Advisors Inc. cut its holdings in shares of ImmunoGen, Inc. (NASDAQ:IMGN) by 17.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,549 shares of the biotechnology company’s stock after selling 30,829 shares during the quarter. Alps Advisors Inc.’s holdings in ImmunoGen were worth $939,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. UBS Group AG lifted its holdings in shares of ImmunoGen by 356.1% during the first quarter. UBS Group AG now owns 476,323 shares of the biotechnology company’s stock worth $5,011,000 after buying an additional 371,886 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of ImmunoGen by 51.6% during the first quarter. Russell Investments Group Ltd. now owns 157,672 shares of the biotechnology company’s stock worth $1,658,000 after buying an additional 53,644 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of ImmunoGen by 14.7% during the first quarter. Wells Fargo & Company MN now owns 1,788,639 shares of the biotechnology company’s stock worth $18,817,000 after buying an additional 229,787 shares during the last quarter. Chicago Equity Partners LLC lifted its holdings in shares of ImmunoGen by 3.0% during the first quarter. Chicago Equity Partners LLC now owns 503,765 shares of the biotechnology company’s stock worth $5,300,000 after buying an additional 14,730 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of ImmunoGen during the first quarter worth approximately $126,000. Institutional investors own 70.85% of the company’s stock.

Shares of NASDAQ IMGN opened at $8.95 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.76 and a quick ratio of 5.73. The firm has a market capitalization of $1.33 billion, a P/E ratio of -11.93 and a beta of 2.02. ImmunoGen, Inc. has a one year low of $4.80 and a one year high of $13.41.

ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings data on Friday, July 27th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The business had revenue of $9.29 million during the quarter, compared to analysts’ expectations of $14.12 million. During the same period in the prior year, the company earned ($0.10) EPS. ImmunoGen’s quarterly revenue was down 76.2% on a year-over-year basis. equities analysts anticipate that ImmunoGen, Inc. will post -1.2 EPS for the current year.

In other ImmunoGen news, CFO David Brannon Johnston sold 10,000 shares of the stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $11.02, for a total transaction of $110,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.44% of the company’s stock.

IMGN has been the subject of a number of recent research reports. ValuEngine upgraded ImmunoGen from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 22nd. BidaskClub upgraded ImmunoGen from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Canaccord Genuity restated a “buy” rating and issued a $20.00 target price on shares of ImmunoGen in a research note on Friday, April 27th. HC Wainwright set a $18.00 target price on ImmunoGen and gave the company a “buy” rating in a research note on Thursday, May 17th. Finally, Cowen restated a “hold” rating on shares of ImmunoGen in a research note on Thursday, May 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price 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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Institutional Ownership by Quarter for ImmunoGen (NASDAQ:IMGN)

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