Gould Asset Management LLC CA acquired a new stake in ImmunoGen, Inc. (NASDAQ:IMGN) during the second quarter, Holdings Channel reports. The fund acquired 15,000 shares of the biotechnology company’s stock, valued at approximately $107,000.
Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of ImmunoGen by 37,346.0% in the first quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock valued at $725,000 after buying an additional 186,730 shares during the period. Stifel Financial Corp boosted its position in shares of ImmunoGen by 14.2% in the first quarter. Stifel Financial Corp now owns 103,815 shares of the biotechnology company’s stock valued at $382,000 after buying an additional 12,907 shares during the period. Neuberger Berman Group LLC boosted its position in shares of ImmunoGen by 8.2% in the first quarter. Neuberger Berman Group LLC now owns 47,943 shares of the biotechnology company’s stock valued at $186,000 after buying an additional 3,616 shares during the period. Creative Planning boosted its position in shares of ImmunoGen by 116.4% in the first quarter. Creative Planning now owns 53,444 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 28,744 shares during the period. Finally, Norges Bank purchased a new position in shares of ImmunoGen during the fourth quarter valued at about $3,123,000. Hedge funds and other institutional investors own 74.69% of the company’s stock.
Shares of ImmunoGen, Inc. (NASDAQ:IMGN) opened at 6.07 on Friday. ImmunoGen, Inc. has a 1-year low of $1.51 and a 1-year high of $8.04. The firm has a 50-day moving average price of $6.33 and a 200-day moving average price of $4.52. The company’s market capitalization is $543.85 million.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $39.02 million during the quarter, compared to analyst estimates of $30.59 million. ImmunoGen’s revenue for the quarter was up 426.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.53) EPS. Equities analysts anticipate that ImmunoGen, Inc. will post ($0.84) earnings per share for the current year.
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IMGN has been the topic of several research analyst reports. Zacks Investment Research cut ImmunoGen from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Royal Bank Of Canada set a $5.00 price objective on ImmunoGen and gave the stock a “hold” rating in a research note on Monday, June 26th. BidaskClub cut ImmunoGen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Leerink Swann restated an “outperform” rating and set a $11.00 price objective (up from $8.00) on shares of ImmunoGen in a research note on Monday, June 19th. Finally, Canaccord Genuity set a $8.00 price objective on ImmunoGen and gave the stock a “buy” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target 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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