Commonwealth Equity Services LLC Increases Stock Position in ImmunoGen, Inc. (NASDAQ:IMGN)

Commonwealth Equity Services LLC grew its stake in shares of ImmunoGen, Inc. (NASDAQ:IMGN – Get Rating) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 169,094 shares of the biotechnology company’s stock after buying an additional 2,409 shares during the period. Commonwealth Equity Services LLC owned 0.08% of ImmunoGen worth $838,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CM Management LLC grew its stake in shares of ImmunoGen by 5.3% during the 3rd quarter. CM Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $2,390,000 after buying an additional 25,000 shares during the period. Fisher Asset Management LLC boosted its position in ImmunoGen by 53.4% during the 3rd quarter. Fisher Asset Management LLC now owns 584,775 shares of the biotechnology company’s stock worth $2,795,000 after purchasing an additional 203,569 shares during the period. Putnam Investments LLC boosted its position in ImmunoGen by 390.1% during the 3rd quarter. Putnam Investments LLC now owns 1,031,092 shares of the biotechnology company’s stock worth $4,929,000 after purchasing an additional 820,722 shares during the period. Quantbot Technologies LP purchased a new stake in ImmunoGen during the 3rd quarter worth $213,000. Finally, Segall Bryant & Hamill LLC boosted its position in ImmunoGen by 2.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 878,961 shares of the biotechnology company’s stock worth $4,199,000 after purchasing an additional 24,315 shares during the period. 89.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IMGN. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of ImmunoGen in a research report on Thursday, March 2nd. Piper Sandler raised shares of ImmunoGen from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $6.00 to $16.00 in a research report on Wednesday, May 3rd. Finally, StockNews.com assumed coverage on shares of ImmunoGen in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.71.

ImmunoGen Price Performance

Shares of IMGN stock opened at $13.98 on Wednesday. ImmunoGen, Inc. has a 12 month low of $3.10 and a 12 month high of $14.91. The firm has a market capitalization of $3.16 billion, a P/E ratio of -14.87 and a beta of 0.95. The company’s fifty day moving average price is $6.95 and its two-hundred day moving average price is $5.50.

ImmunoGen (NASDAQ:IMGN – Get Rating) last issued its earnings results on Friday, April 28th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.09. The business had revenue of $49.90 million for the quarter, compared to analyst estimates of $21.63 million. ImmunoGen had a negative net margin of 198.88% and a negative return on equity of 135.94%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.10) EPS. On average, sell-side analysts anticipate that ImmunoGen, Inc. will post -0.55 EPS for the current year.

About ImmunoGen

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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.