Morgan Stanley decreased its stake in ImmunoGen, Inc. (NASDAQ:IMGN) by 5.4% during the first quarter, Holdings Channel reports. The fund owned 1,198,593 shares of the biotechnology company’s stock after selling 68,374 shares during the period. Morgan Stanley’s holdings in ImmunoGen were worth $4,640,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Parametric Portfolio Associates LLC raised its stake in shares of ImmunoGen by 7.7% in the first quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 2,753 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of ImmunoGen during the first quarter valued at approximately $1,528,000. UBS Asset Management Americas Inc. raised its stake in shares of ImmunoGen by 148.6% in the first quarter. UBS Asset Management Americas Inc. now owns 68,097 shares of the biotechnology company’s stock valued at $264,000 after buying an additional 40,700 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of ImmunoGen by 15.4% in the first quarter. Bank of New York Mellon Corp now owns 438,917 shares of the biotechnology company’s stock valued at $1,698,000 after buying an additional 58,516 shares during the last quarter. Finally, Moloney Securities Asset Management LLC raised its stake in shares of ImmunoGen by 36.2% in the first quarter. Moloney Securities Asset Management LLC now owns 274,450 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 72,900 shares during the last quarter. Institutional investors own 74.38% of the company’s stock.
ImmunoGen, Inc. (NASDAQ IMGN) traded up 7.6402% on Friday, hitting $5.8341. The stock had a trading volume of 1,365,811 shares. The stock has a 50-day moving average of $6.40 and a 200-day moving average of $4.39. ImmunoGen, Inc. has a one year low of $1.51 and a one year high of $8.04. The company’s market cap is $522.72 million.
ImmunoGen (NASDAQ:IMGN) last announced its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The firm had revenue of $39.02 million for the quarter, compared to the consensus estimate of $30.59 million. During the same period in the prior year, the business earned ($0.53) EPS. The company’s quarterly revenue was up 426.6% compared to the same quarter last year. Equities analysts expect that ImmunoGen, Inc. will post ($0.84) earnings per share for the current fiscal year.
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Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of ImmunoGen from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Royal Bank Of Canada upgraded shares of ImmunoGen from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $5.00 to $12.00 in a research report on Thursday, July 6th. Cantor Fitzgerald set a $5.00 target price on shares of ImmunoGen and gave the stock a “hold” rating in a research report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and set a $6.00 target price on shares of ImmunoGen in a research report on Wednesday, June 28th. Finally, William Blair restated an “outperform” rating on shares of ImmunoGen in a research report on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. ImmunoGen presently has a consensus rating of “Hold” and an average target price of $7.72.
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.
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