Sofinnova Investments Inc. bought a new stake in ImmunoGen, Inc. (NASDAQ:IMGN) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 447,075 shares of the biotechnology company’s stock, valued at approximately $2,146,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of ImmunoGen by 7.8% in the 4th quarter. BlackRock Inc. now owns 12,378,204 shares of the biotechnology company’s stock valued at $59,416,000 after purchasing an additional 896,227 shares during the period. Vanguard Group Inc. lifted its stake in shares of ImmunoGen by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 10,158,434 shares of the biotechnology company’s stock valued at $96,201,000 after purchasing an additional 390,917 shares during the period. Vanguard Group Inc lifted its stake in shares of ImmunoGen by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 10,158,434 shares of the biotechnology company’s stock valued at $96,201,000 after purchasing an additional 390,917 shares during the period. Teachers Advisors LLC lifted its stake in shares of ImmunoGen by 6.5% in the 3rd quarter. Teachers Advisors LLC now owns 2,445,021 shares of the biotechnology company’s stock valued at $23,154,000 after purchasing an additional 150,231 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of ImmunoGen by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 1,717,770 shares of the biotechnology company’s stock valued at $8,245,000 after purchasing an additional 96,984 shares during the period. Hedge funds and other institutional investors own 82.19% of the company’s stock.

IMGN has been the subject of a number of research analyst reports. BidaskClub upgraded shares of ImmunoGen from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. HC Wainwright set a $18.00 price objective on shares of ImmunoGen and gave the stock a “buy” rating in a research report on Monday, December 3rd. Piper Jaffray Companies set a $14.00 price objective on shares of ImmunoGen and gave the stock a “buy” rating in a research report on Sunday, December 2nd. ValuEngine cut shares of ImmunoGen from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Finally, Morgan Stanley upgraded shares of ImmunoGen from an “underweight” rating to an “equal weight” rating and set a $2.68 price objective for the company in a research report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. ImmunoGen has an average rating of “Hold” and a consensus price target of $6.74.

NASDAQ:IMGN traded up $0.05 during trading hours on Thursday, reaching $2.58. 10,582 shares of the company were exchanged, compared to its average volume of 5,869,645. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.95 and a current ratio of 3.95. The stock has a market capitalization of $378.01 million, a PE ratio of -2.19 and a beta of 2.30. ImmunoGen, Inc. has a twelve month low of $2.27 and a twelve month high of $12.31.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, February 8th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.05. The company had revenue of $13.79 million during the quarter, compared to analysts’ expectations of $12.42 million. ImmunoGen had a negative net margin of 311.94% and a negative return on equity of 599.63%. The firm’s revenue for the quarter was down 65.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) earnings per share. Research analysts forecast that ImmunoGen, Inc. will post -1.27 earnings per share for the current year.

In other news, VP Thomas Ryll sold 11,495 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $5.60, for a total value of $64,372.00. Following the completion of the sale, the vice president now directly owns 87,184 shares in the company, valued at $488,230.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark J. Enyedy sold 51,070 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $5.60, for a total transaction of $285,992.00. Following the completion of the sale, the chief executive officer now owns 483,768 shares of the company’s stock, valued at $2,709,100.80. The disclosure for this sale can be found here. Insiders have sold 65,603 shares of company stock valued at $366,374 over the last 90 days. 4.44% of the stock is currently owned by company insiders.

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About ImmunoGen

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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