Raymond James Financial Services Advisors Inc. Sells 2,889 Shares of ImmunoGen, Inc. (NASDAQ:IMGN)

Raymond James Financial Services Advisors Inc. lowered its stake in shares of ImmunoGen, Inc. (NASDAQ:IMGN) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,191 shares of the biotechnology company’s stock after selling 2,889 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in ImmunoGen were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new position in shares of ImmunoGen during the 3rd quarter valued at about $35,000. Bank of Montreal Can bought a new position in shares of ImmunoGen during the 2nd quarter valued at about $47,000. XTX Topco Ltd bought a new position in shares of ImmunoGen during the 1st quarter valued at about $62,000. PEAK6 Investments LLC bought a new position in shares of ImmunoGen during the 1st quarter valued at about $77,000. Finally, Eqis Capital Management Inc. acquired a new stake in ImmunoGen in the 1st quarter valued at approximately $96,000. Institutional investors own 90.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on ImmunoGen in a research report on Wednesday, April 10th. They issued 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $25.77.

ImmunoGen Stock Performance

IMGN opened at $31.23 on Wednesday. The business has a fifty day simple moving average of $31.16 and a 200 day simple moving average of $25.65. The company has a market capitalization of $8.32 billion, a PE ratio of -100.74 and a beta of 1.18. ImmunoGen, Inc. has a 1 year low of $3.61 and a 1 year high of $31.25. 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 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.