ImmunoGen, Inc. (NASDAQ:IMGN) Position Cut by SG Americas Securities LLC

SG Americas Securities LLC lowered its holdings in shares of ImmunoGen, Inc. (NASDAQ:IMGN – Get Rating) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,305 shares of the biotechnology company’s stock after selling 4,371 shares during the period. SG Americas Securities LLC’s holdings in ImmunoGen were worth $185,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its stake in shares of ImmunoGen by 20.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 26,421 shares of the biotechnology company’s stock worth $126,000 after acquiring an additional 4,548 shares during the period. Bank of New York Mellon Corp boosted its stake in ImmunoGen by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 798,902 shares of the biotechnology company’s stock valued at $3,803,000 after purchasing an additional 52,243 shares in the last quarter. MetLife Investment Management LLC boosted its stake in ImmunoGen by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 108,476 shares of the biotechnology company’s stock valued at $516,000 after purchasing an additional 38,679 shares in the last quarter. BlackRock Inc. increased its position in shares of ImmunoGen by 10.6% during the 1st quarter. BlackRock Inc. now owns 16,432,933 shares of the biotechnology company’s stock valued at $78,225,000 after purchasing an additional 1,569,629 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of ImmunoGen by 0.5% in the 1st quarter. Blair William & Co. IL now owns 538,410 shares of the biotechnology company’s stock worth $2,563,000 after buying an additional 2,925 shares in the last quarter. Institutional investors and hedge funds own 89.13% of the company’s stock.

ImmunoGen Trading Up 1.5 %

Shares of IMGN stock opened at $13.68 on Friday. The stock’s fifty day simple moving average is $5.38 and its 200-day simple moving average is $5.06. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -14.55 and a beta of 0.95. ImmunoGen, Inc. has a 1-year low of $3.10 and a 1-year high of $14.00.

ImmunoGen (NASDAQ:IMGN – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.09. ImmunoGen had a negative net margin of 198.88% and a negative return on equity of 135.94%. The business had revenue of $49.90 million during the quarter, compared to analyst estimates of $21.63 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The firm’s revenue was up 31.0% compared to the same quarter last year. On average, sell-side analysts predict that ImmunoGen, Inc. will post -0.56 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IMGN shares. Piper Sandler raised ImmunoGen from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $6.00 to $16.00 in a report on Wednesday, May 3rd. StockNews.com raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of ImmunoGen in a research report on Thursday, March 2nd. Finally, JPMorgan Chase & Co. increased their price objective on ImmunoGen from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, ImmunoGen presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.71.

ImmunoGen Company Profile

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ImmunoGen, Inc engages in the discovery and development of antibody-drug conjugates to improve outcomes for cancer patients. Its pipeline includes Mirvetuximab Soravtansine, IMGN632, IMGC936, and IMGN151. The company was founded on March 27, 1981 and is headquartered in Waltham, MA.