ImmunoGen, Inc. (IMGN) VP Richard J. Gregory Sells 2,904 Shares

ImmunoGen, Inc. (NASDAQ:IMGN) VP Richard J. Gregory sold 2,904 shares of ImmunoGen stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $6.64, for a total value of $19,282.56. Following the completion of the transaction, the vice president now owns 273,577 shares in the company, valued at approximately $1,816,551.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of ImmunoGen, Inc. (NASDAQ:IMGN) opened at $7.49 on Thursday. ImmunoGen, Inc. has a 52 week low of $2.20 and a 52 week high of $8.84. The firm has a market capitalization of $1,160.00, a PE ratio of -5.76 and a beta of 2.20. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of -0.03.

ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings results on Friday, November 3rd. The biotechnology company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.42). The firm had revenue of $8.50 million during the quarter, compared to analyst estimates of $26.09 million. During the same quarter last year, the firm earned ($0.51) EPS. The business’s revenue was up 10.4% on a year-over-year basis. research analysts forecast that ImmunoGen, Inc. will post -0.97 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of IMGN. Russell Investments Group Ltd. purchased a new stake in shares of ImmunoGen during the second quarter worth about $872,000. Schwab Charles Investment Management Inc. lifted its holdings in ImmunoGen by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock valued at $2,360,000 after acquiring an additional 1,919 shares during the period. State of Wisconsin Investment Board acquired a new position in ImmunoGen in the second quarter valued at approximately $412,000. Bank of New York Mellon Corp lifted its holdings in ImmunoGen by 31.7% in the second quarter. Bank of New York Mellon Corp now owns 577,840 shares of the biotechnology company’s stock valued at $4,108,000 after acquiring an additional 138,923 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in shares of ImmunoGen during the 2nd quarter worth approximately $541,000. Institutional investors and hedge funds own 68.02% of the company’s stock.

Several equities analysts have issued reports on the company. Jefferies Group reiterated a “buy” rating and issued a $9.00 target price on shares of ImmunoGen in a research note on Thursday, October 12th. Cantor Fitzgerald reiterated a “hold” rating and issued a $5.00 target price on shares of ImmunoGen in a research note on Monday, September 25th. ValuEngine lowered ImmunoGen from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Finally, Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. ImmunoGen currently has a consensus rating of “Hold” and an average price target of $7.83.

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About ImmunoGen

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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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