Janney Montgomery Scott LLC Sells 6,735 Shares of ImmunoGen, Inc. (NASDAQ:IMGN)

Janney Montgomery Scott LLC reduced its holdings in shares of ImmunoGen, Inc. (NASDAQ:IMGNGet Rating) by 14.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,303 shares of the biotechnology company’s stock after selling 6,735 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ImmunoGen were worth $186,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in IMGN. XTX Topco Ltd acquired a new stake in ImmunoGen during the 1st quarter worth approximately $62,000. TFC Financial Management lifted its holdings in ImmunoGen by 18.1% during the 1st quarter. TFC Financial Management now owns 17,950 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 2,750 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in ImmunoGen during the 1st quarter worth approximately $96,000. Kestra Advisory Services LLC raised its holdings in ImmunoGen by 14.6% in the 1st quarter. Kestra Advisory Services LLC now owns 23,468 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 2,985 shares in the last quarter. Finally, Leo Brokerage LLC acquired a new position in ImmunoGen in the 1st quarter valued at $119,000. 95.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. HC Wainwright lifted their price objective on ImmunoGen from $12.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Barclays lifted their price objective on ImmunoGen from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Tuesday. Guggenheim set a $22.00 price objective on ImmunoGen in a report on Thursday. StockNews.com assumed coverage on ImmunoGen in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, Canaccord Genuity Group boosted their price target on ImmunoGen from $12.00 to $15.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.38.

ImmunoGen Stock Performance

ImmunoGen stock opened at $5.15 on Friday. The stock has a market capitalization of $1.14 billion, a P/E ratio of -6.28 and a beta of 1.06. ImmunoGen, Inc. has a 52 week low of $3.10 and a 52 week high of $7.77. The stock has a fifty day moving average of $5.48 and a 200-day moving average of $4.97.

About ImmunoGen

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ImmunoGen, Inc, a clinical-stage biotechnology company, develops antibody-drug conjugate (ADC) therapies to treat cancer. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; and Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.

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Institutional Ownership by Quarter for ImmunoGen (NASDAQ:IMGN)

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