ImmunoGen (NASDAQ:IMGN) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of ImmunoGen (NASDAQ:IMGNGet Free Report) in a report released on Tuesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Separately, Piper Sandler reiterated a “neutral” rating and set a $31.00 price objective (up from $24.00) on shares of ImmunoGen in a report on Monday, December 4th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, ImmunoGen presently has an average rating of “Hold” and an average price target of $25.77.

Check Out Our Latest Stock Report on ImmunoGen

ImmunoGen Price Performance

Shares of NASDAQ:IMGN opened at $31.23 on Tuesday. 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 has a 1 year low of $3.61 and a 1 year high of $31.25. The business has a fifty day simple moving average of $30.80 and a 200 day simple moving average of $24.53. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of -100.74 and a beta of 1.18.

Insider Buying and Selling at ImmunoGen

In other ImmunoGen news, SVP Theresa Wingrove sold 187,667 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $29.64, for a total transaction of $5,562,449.88. Following the transaction, the senior vice president now directly owns 3,426 shares in the company, valued at $101,546.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.07% of the company’s stock.

Hedge Funds Weigh In On ImmunoGen

A number of institutional investors have recently made changes to their positions in IMGN. Vazirani Asset Management LLC bought a new position in shares of ImmunoGen in the fourth quarter worth about $25,000. Parallel Advisors LLC increased its stake in shares of ImmunoGen by 3,028.6% in the fourth quarter. Parallel Advisors LLC now owns 876 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 848 shares during the period. BluePath Capital Management LLC bought a new position in shares of ImmunoGen in the third quarter worth about $35,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of ImmunoGen in the fourth quarter worth about $46,000. Finally, Bank of Montreal Can bought a new position in shares of ImmunoGen in the second quarter worth about $47,000. 90.50% of the stock is currently owned by institutional investors.

About ImmunoGen

(Get Free Report)

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.

Further Reading

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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