Mirae Asset Global Investments Co. Ltd. Trims Position in ImmunoGen, Inc. (NASDAQ:IMGN)

Mirae Asset Global Investments Co. Ltd. reduced its position in ImmunoGen, Inc. (NASDAQ:IMGN) by 5.2% in the 4th quarter, Holdings Channel reports. The fund owned 127,205 shares of the biotechnology company’s stock after selling 6,934 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ImmunoGen were worth $3,772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in shares of ImmunoGen by 2.1% during the third quarter. Amalgamated Bank now owns 31,076 shares of the biotechnology company’s stock worth $493,000 after purchasing an additional 652 shares during the last quarter. Arizona State Retirement System lifted its position in ImmunoGen by 1.4% during the third quarter. Arizona State Retirement System now owns 62,272 shares of the biotechnology company’s stock worth $988,000 after buying an additional 842 shares during the period. Sei Investments Co. boosted its stake in ImmunoGen by 0.7% in the 3rd quarter. Sei Investments Co. now owns 193,702 shares of the biotechnology company’s stock worth $3,074,000 after buying an additional 1,263 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in ImmunoGen in the 4th quarter valued at about $46,000. Finally, Los Angeles Capital Management LLC increased its stake in shares of ImmunoGen by 3.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 46,985 shares of the biotechnology company’s stock valued at $746,000 after acquiring an additional 1,705 shares during the last quarter. 90.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of ImmunoGen in a report on Wednesday, April 10th. They set a “hold” rating on the stock. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.77.

ImmunoGen Stock Performance

NASDAQ IMGN opened at $31.23 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 5.70 and a quick ratio of 5.65. ImmunoGen, Inc. has a 1-year low of $3.61 and a 1-year high of $31.25. The firm has a market capitalization of $8.32 billion, a P/E ratio of -100.74 and a beta of 1.18. The business’s 50-day simple moving average is $31.16 and its 200-day simple moving average is $25.65.

About ImmunoGen

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.