ImmunoGen, Inc. (NASDAQ:IMGN) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its stake in shares of ImmunoGen, Inc. (NASDAQ:IMGN) by 62.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,926 shares of the biotechnology company’s stock after selling 28,482 shares during the period. Raymond James & Associates’ holdings in ImmunoGen were worth $319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its stake in shares of ImmunoGen by 20.8% during 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 worth $3,803,000 after acquiring an additional 52,243 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of ImmunoGen by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 108,476 shares of the biotechnology company’s stock worth $516,000 after acquiring an additional 38,679 shares in the last quarter. BlackRock Inc. boosted its stake 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 worth $78,225,000 after acquiring an additional 1,569,629 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of ImmunoGen by 0.5% during the 1st quarter. Blair William & Co. IL now owns 538,410 shares of the biotechnology company’s stock worth $2,563,000 after acquiring an additional 2,925 shares in the last quarter. 90.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IMGN shares. BMO Capital Markets increased their target price on shares of ImmunoGen from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ImmunoGen in a research note on Thursday. They issued a “buy” rating and a $25.00 price target on the stock. HC Wainwright raised their price target on shares of ImmunoGen from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Oppenheimer initiated coverage on shares of ImmunoGen in a research note on Thursday, October 5th. They issued a “market perform” rating and a $16.00 price target on the stock. Finally, Canaccord Genuity Group raised their price target on shares of ImmunoGen from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

ImmunoGen Stock Up 0.1 %

IMGN stock opened at $14.76 on Friday. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -47.61 and a beta of 0.83. The company has a current ratio of 5.70, a quick ratio of 5.65 and a debt-to-equity ratio of 0.13. ImmunoGen, Inc. has a 12 month low of $3.61 and a 12 month high of $20.69. The firm has a 50-day moving average of $15.10 and a two-hundred day moving average of $15.50.

Insider Buying and Selling at ImmunoGen

In other news, VP Renee Lentini sold 219,545 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $15.29, for a total transaction of $3,356,843.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Renee Lentini sold 219,545 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $15.29, for a total transaction of $3,356,843.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Theresa Wingrove sold 19,517 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $16.66, for a total transaction of $325,153.22. Following the sale, the senior vice president now owns 2,811 shares of the company’s stock, valued at approximately $46,831.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 623,079 shares of company stock worth $9,411,535. Insiders own 5.07% of the company’s stock.

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.