ImmunoGen, Inc. (IMGN) Director Purchases $172,800.00 in Stock

ImmunoGen, Inc. (NASDAQ:IMGN) Director Mark Alan Goldberg bought 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was bought at an average cost of $5.76 per share, for a total transaction of $172,800.00. Following the completion of the transaction, the director now directly owns 53,800 shares of the company’s stock, valued at approximately $309,888. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NASDAQ IMGN opened at $5.93 on Friday. ImmunoGen, Inc. has a one year low of $5.24 and a one year high of $13.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.73 and a current ratio of 4.59. The company has a market capitalization of $919.89 million, a P/E ratio of -7.91 and a beta of 2.49.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings results on Friday, November 2nd. The biotechnology company reported ($0.32) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.01. ImmunoGen had a negative net margin of 176.35% and a negative return on equity of 673.66%. The firm had revenue of $10.90 million for the quarter, compared to analyst estimates of $13.60 million. During the same quarter last year, the firm posted ($0.61) earnings per share. ImmunoGen’s revenue for the quarter was up 28.2% compared to the same quarter last year. Equities research analysts predict that ImmunoGen, Inc. will post -1.24 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in ImmunoGen in the second quarter valued at approximately $115,000. Signition LP purchased a new position in ImmunoGen in the third quarter valued at approximately $115,000. MML Investors Services LLC purchased a new position in ImmunoGen in the third quarter valued at approximately $130,000. Private Advisor Group LLC purchased a new position in ImmunoGen in the second quarter valued at approximately $131,000. Finally, Great West Life Assurance Co. Can raised its holdings in ImmunoGen by 75.1% in the second quarter. Great West Life Assurance Co. Can now owns 15,767 shares of the biotechnology company’s stock valued at $153,000 after buying an additional 6,763 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Several equities research analysts recently issued reports on IMGN shares. BidaskClub cut shares of ImmunoGen from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Cowen reissued a “hold” rating on shares of ImmunoGen in a research report on Friday, July 27th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of ImmunoGen in a research report on Monday, July 30th. Zacks Investment Research cut shares of ImmunoGen from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Finally, Piper Jaffray Companies started coverage on shares of ImmunoGen in a research report on Thursday, September 6th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $14.75.

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ImmunoGen Company Profile

ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.

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Insider Buying and Selling by Quarter for ImmunoGen (NASDAQ:IMGN)

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