ValuEngine cut shares of ImmunoGen (NASDAQ:IMGN) from a hold rating to a sell rating in a research note published on Wednesday.
Several other analysts have also issued reports on IMGN. BidaskClub upgraded ImmunoGen from a hold rating to a buy rating in a report on Thursday, January 18th. HC Wainwright started coverage on ImmunoGen in a report on Wednesday, January 31st. They set a buy rating for the company. Royal Bank of Canada reiterated an outperform rating and set a $12.00 price objective on shares of ImmunoGen in a report on Thursday, February 8th. Zacks Investment Research lowered ImmunoGen from a buy rating to a hold rating in a report on Wednesday, February 14th. Finally, Cantor Fitzgerald set a $5.00 price objective on ImmunoGen and gave the stock a hold rating in a report on Sunday, March 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $10.79.
Shares of NASDAQ:IMGN opened at $10.52 on Wednesday. The company has a quick ratio of 4.94, a current ratio of 4.95 and a debt-to-equity ratio of -0.11. ImmunoGen has a 1 year low of $2.84 and a 1 year high of $13.41. The firm has a market cap of $1,397.54, a P/E ratio of -14.03 and a beta of 2.17.
In other ImmunoGen news, Director Daniel M. Junius sold 25,000 shares of the stock in a transaction on Friday, March 16th. The shares were sold at an average price of $12.02, for a total transaction of $300,500.00. Following the transaction, the director now directly owns 209,987 shares of the company’s stock, valued at $2,524,043.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel M. Junius sold 46,667 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $10.01, for a total transaction of $467,136.67. Following the transaction, the director now directly owns 243,367 shares in the company, valued at $2,436,103.67. The disclosure for this sale can be found here. Insiders have sold 232,834 shares of company stock worth $2,534,433 over the last three months. Company insiders own 6.51% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Virginia Retirement Systems ET AL acquired a new position in ImmunoGen during the third quarter worth $136,000. SG Americas Securities LLC increased its position in ImmunoGen by 75.7% during the fourth quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock worth $118,000 after buying an additional 7,937 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in ImmunoGen during the third quarter worth $143,000. Engineers Gate Manager LP acquired a new position in ImmunoGen during the fourth quarter worth $149,000. Finally, Dynamic Advisors Solutions LLC acquired a new position in ImmunoGen during the fourth quarter worth $150,000. 78.25% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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