Royal Bank of Canada Purchases 137,061 Shares of ImmunoGen, Inc. (IMGN)
Royal Bank of Canada boosted its position in ImmunoGen, Inc. (NASDAQ:IMGN) by 789.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,432 shares of the biotechnology company’s stock after purchasing an additional 137,061 shares during the quarter. Royal Bank of Canada owned about 0.17% of ImmunoGen worth $1,098,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in ImmunoGen by 37,346.0% in the 1st quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock valued at $725,000 after purchasing an additional 186,730 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in ImmunoGen by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock valued at $2,360,000 after purchasing an additional 1,919 shares during the period. Geode Capital Management LLC boosted its stake in ImmunoGen by 3.5% in the 1st quarter. Geode Capital Management LLC now owns 678,343 shares of the biotechnology company’s stock valued at $2,625,000 after purchasing an additional 22,991 shares during the period. Vanguard Group Inc. lifted its position in shares of ImmunoGen by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,110,431 shares of the biotechnology company’s stock valued at $15,907,000 after acquiring an additional 27,141 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of ImmunoGen by 1.0% during the 2nd quarter. Fisher Asset Management LLC now owns 256,206 shares of the biotechnology company’s stock valued at $1,822,000 after acquiring an additional 2,530 shares during the period. Institutional investors and hedge funds own 73.03% of the company’s stock.
In other news, VP Craig Barrows sold 14,600 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $6.95, for a total transaction of $101,470.00. Following the transaction, the vice president now directly owns 51,100 shares of the company’s stock, valued at $355,145. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.51% of the company’s stock.
Shares of ImmunoGen, Inc. (NASDAQ IMGN) opened at $5.63 on Friday. The company has a debt-to-equity ratio of -0.56, a current ratio of 2.40 and a quick ratio of 2.34.
ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, November 3rd. The biotechnology company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.42). The firm had revenue of $8.50 million for the quarter, compared to analyst estimates of $26.09 million. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. equities research analysts predict that ImmunoGen, Inc. will post -0.82 EPS for the current fiscal year.
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A number of equities analysts have recently commented on IMGN shares. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a report on Tuesday, August 29th. BidaskClub cut ImmunoGen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Cantor Fitzgerald set a $5.00 target price on ImmunoGen and gave the stock a “hold” rating in a report on Friday, July 28th. Zacks Investment Research cut ImmunoGen from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $9.00 price target on shares of ImmunoGen in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $7.83.
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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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