ImmunoGen, Inc. (NASDAQ:IMGN)’s share price was up 0.6% on Wednesday . The company traded as high as $3.11 and last traded at $3.12, approximately 92,451 shares were traded during trading. A decline of 92% from the average daily volume of 1,108,465 shares. The stock had previously closed at $3.10.
A number of research firms have recently issued reports on IMGN. Cowen reissued a “buy” rating on shares of ImmunoGen in a report on Thursday, June 27th. BidaskClub raised ImmunoGen from a “strong sell” rating to a “sell” rating in a report on Saturday, July 6th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target (up from $4.00) on shares of ImmunoGen in a report on Tuesday, August 13th. Guggenheim downgraded shares of ImmunoGen from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th. Finally, ValuEngine upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $3.28.
The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.48 and a current ratio of 3.48. The company has a 50-day moving average of $2.63 and a 200-day moving average of $2.57. The stock has a market capitalization of $483.20 million, a price-to-earnings ratio of -2.67 and a beta of 2.19.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley grew its stake in ImmunoGen by 74.6% in the 2nd quarter. Morgan Stanley now owns 5,833,867 shares of the biotechnology company’s stock worth $12,659,000 after acquiring an additional 2,493,037 shares during the period. Redmile Group LLC boosted its holdings in shares of ImmunoGen by 20.0% in the 1st quarter. Redmile Group LLC now owns 13,063,767 shares of the biotechnology company’s stock valued at $35,403,000 after purchasing an additional 2,179,160 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of ImmunoGen by 272.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,401,637 shares of the biotechnology company’s stock valued at $2,874,000 after buying an additional 1,025,242 shares during the period. Clearline Capital LP purchased a new position in shares of ImmunoGen in the 2nd quarter worth about $1,527,000. Finally, Pinnacle Associates Ltd. grew its stake in ImmunoGen by 76.9% during the first quarter. Pinnacle Associates Ltd. now owns 1,607,596 shares of the biotechnology company’s stock worth $4,357,000 after buying an additional 698,820 shares during the period. 68.08% of the stock is currently owned by institutional investors and hedge funds.
ImmunoGen Company Profile (NASDAQ:IMGN)
ImmunoGen, Inc, a clinical-stage biotechnology company, develops 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.
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