Wellington Management Group LLP Has $37.88 Million Position in ImmunoGen, Inc. (NASDAQ:IMGN)

Wellington Management Group LLP increased its position in shares of ImmunoGen, Inc. (NASDAQ:IMGN) by 6.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,864,785 shares of the biotechnology company’s stock after purchasing an additional 638,077 shares during the quarter. Wellington Management Group LLP’s holdings in ImmunoGen were worth $37,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in ImmunoGen by 3.9% in the 4th quarter. Arizona State Retirement System now owns 56,052 shares of the biotechnology company’s stock valued at $278,000 after acquiring an additional 2,115 shares in the last quarter. Principal Financial Group Inc. raised its holdings in ImmunoGen by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 55,996 shares of the biotechnology company’s stock valued at $215,000 after acquiring an additional 2,213 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in ImmunoGen by 1.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 169,094 shares of the biotechnology company’s stock valued at $838,000 after acquiring an additional 2,409 shares in the last quarter. Blair William & Co. IL raised its holdings in ImmunoGen by 0.5% in the 1st quarter. Blair William & Co. IL now owns 538,410 shares of the biotechnology company’s stock valued at $2,563,000 after acquiring an additional 2,925 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in shares of ImmunoGen by 13.7% in the 1st quarter. Chicago Partners Investment Group LLC now owns 25,482 shares of the biotechnology company’s stock valued at $103,000 after purchasing an additional 3,076 shares during the last quarter. 90.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ImmunoGen

In other ImmunoGen news, CEO Mark J. Enyedy sold 1,020,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $16.61, for a total value of $16,942,200.00. Following the completion of the sale, the chief executive officer now directly owns 441,449 shares of the company’s stock, valued at $7,332,467.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ImmunoGen news, insider Renee Lentini sold 148,277 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $17.55, for a total value of $2,602,261.35. Following the completion of the sale, the insider now directly owns 22,843 shares of the company’s stock, valued at $400,894.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark J. Enyedy sold 1,020,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $16.61, for a total value of $16,942,200.00. Following the completion of the transaction, the chief executive officer now directly owns 441,449 shares of the company’s stock, valued at $7,332,467.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,353,068 shares of company stock valued at $22,414,102. Company insiders own 5.07% of the company’s stock.

ImmunoGen Stock Performance

IMGN stock opened at $15.49 on Friday. The firm has a market cap of $3.86 billion, a PE ratio of -21.51 and a beta of 1.00. The company has a quick ratio of 7.11, a current ratio of 7.14 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $17.09 and a 200-day moving average of $11.97. ImmunoGen, Inc. has a 12-month low of $3.61 and a 12-month high of $20.69.

ImmunoGen (NASDAQ:IMGN) last released its earnings results on Monday, July 31st. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.14. The company had revenue of $83.20 million during the quarter, compared to analyst estimates of $49.15 million. ImmunoGen had a negative return on equity of 76.92% and a negative net margin of 96.02%. ImmunoGen’s quarterly revenue was up 485.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.24) earnings per share. As a group, sell-side analysts expect that ImmunoGen, Inc. will post -0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

IMGN has been the topic of several recent analyst reports. BMO Capital Markets lifted their price target on ImmunoGen from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Truist Financial lifted their price target on ImmunoGen from $15.00 to $18.00 in a research note on Tuesday, June 6th. HC Wainwright lifted their price target on ImmunoGen from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, August 29th. Barclays upped their price target on ImmunoGen from $20.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Finally, StockNews.com began coverage on ImmunoGen in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

ImmunoGen Profile

ImmunoGen, Inc, a commercial-stage biotechnology company, focuses on developing and commercializing the antibody-drug conjugates (ADCs) for cancer patients. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), for the treatment of platinum-resistant ovarian cancer; and a cell-surface protein expressed in various epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers, as well as Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.