ImmunoGen, Inc. (IMGN) VP Sells $16,010.26 in Stock

ImmunoGen, Inc. (NASDAQ:IMGN) VP Richard J. Gregory sold 3,038 shares of the company’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $5.27, for a total transaction of $16,010.26. Following the completion of the transaction, the vice president now owns 236,056 shares in the company, valued at $1,244,015.12. The transaction was disclosed in a filing with the SEC, which is available at this link.

IMGN stock opened at $5.47 on Friday. ImmunoGen, Inc. has a fifty-two week low of $3.80 and a fifty-two week high of $13.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.56 and a current ratio of 4.59. The company has a market cap of $814.03 million, a P/E ratio of -7.29 and a beta of 2.37.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, November 2nd. The biotechnology company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.01. The business had revenue of $10.90 million for the quarter, compared to the consensus estimate of $13.60 million. ImmunoGen had a negative return on equity of 673.66% and a negative net margin of 176.35%. ImmunoGen’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.61) earnings per share. On average, equities research analysts forecast that ImmunoGen, Inc. will post -1.24 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. Redmile Group LLC grew its stake in shares of ImmunoGen by 26.9% in the second quarter. Redmile Group LLC now owns 12,315,942 shares of the biotechnology company’s stock worth $119,834,000 after purchasing an additional 2,613,460 shares during the last quarter. BlackRock Inc. increased its position in shares of ImmunoGen by 10.0% during the third quarter. BlackRock Inc. now owns 11,481,977 shares of the biotechnology company’s stock valued at $108,733,000 after acquiring an additional 1,045,627 shares in the last quarter. Vanguard Group Inc grew its position in ImmunoGen by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 10,158,434 shares of the biotechnology company’s stock worth $96,201,000 after purchasing an additional 390,917 shares during the period. Vanguard Group Inc. grew its position in ImmunoGen by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 10,158,434 shares of the biotechnology company’s stock worth $96,201,000 after purchasing an additional 390,917 shares during the period. Finally, FMR LLC grew its position in shares of ImmunoGen by 34.0% during the 2nd quarter. FMR LLC now owns 8,704,234 shares of the biotechnology company’s stock valued at $84,692,000 after acquiring an additional 2,208,796 shares during the period. 83.10% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have issued reports on IMGN. BidaskClub upgraded shares of ImmunoGen from a “strong sell” rating to a “sell” rating in a report on Wednesday. HC Wainwright reiterated a “buy” rating on shares of ImmunoGen in a report on Thursday, January 3rd. Piper Jaffray Companies set a $14.00 price target on shares of ImmunoGen and gave the stock a “buy” rating in a research report on Sunday, December 2nd. ValuEngine cut ImmunoGen from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of ImmunoGen in a report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $14.60.

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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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