Xponance Inc. makes new investment in ImmunoGen, Inc. (NASDAQ:IMGN)


Xponance Inc. acquired a new position in shares of ImmunoGen, Inc. (NASDAQ:IMGN – Get Rating ) during the first quarter, Holdings Channel reports. The firm acquired 10,216 shares of the biotechnology company’s stock, valued at approximately $49,000.

Other hedge funds have also recently bought and sold shares of the company. Adage Capital Partners GP LLC boosted its position in ImmunoGen by 32.7% during the 4th quarter. Adage Capital Partners GP LLC now owns 10,286,193 shares of the biotechnology company’s stock valued at $76,324,000 after purchasing an additional 2,536,193 shares during the period. Pinnacle Associates Ltd. grew its position in ImmunoGen by 37.6% in the 4th quarter. Pinnacle Associates Ltd. now owns 1,186,058 shares of the biotechnology company’s stock valued at $8,801,000 after purchasing an additional 324,176 shares during the period. Renaissance Technologies LLC boosted its position in ImmunoGen by 6.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,217,387 shares of the biotechnology company’s stock valued at $9,033,000 after buying an additional 75,547 shares during the period. Lynx1 Capital Management LP purchased a new position in ImmunoGen during the 4th quarter valued at $15,801,000. Finally, Northern Trust Corp boosted its position in ImmunoGen by 1.0% during the 4th quarter. Northern Trust Corp now owns 2,129,508 shares of the biotechnology company’s stock valued at $15,801,000 after buying an additional 21,104 shares during the period. Hedge funds and other institutional investors own 87.45% of the company’s shares.

NASDAQ IMGN opened at $5.46 on Friday. The business has a fifty day moving average of $4.05 and a two hundred day moving average of $5.08. ImmunoGen, Inc. has a fifty-two week low of $3.10 and a fifty-two week high of $7.77. The stock has a market cap of $1.20 billion, a PE ratio of -9.10 and a beta of 0.98.

ImmunoGen (NASDAQ:IMGN – Get Rating ) last posted its earnings results on Friday, May 6th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.11. ImunoGen had a negative return on equity of 82.39% and a negative net profit margin of 140.30%. The firm had revenue of $38.10 million during the quarter, compared to analysts’ expectations of $20.84 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 142.7% year over year. On average, equities research analysts expect that ImmunoGen, Inc. will report -0.86 earnings per share for the current year.

Several brokerage houses opposed IMGN. Royal Bank of Canada downgraded ImunoGen from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $9.00 to $6.00 in a report on Monday, March 21st. StockNews.com raised ImmunoGen from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. ImmunoGen presently has an average rating of “Hold” and a consensus target price of $10.25, according to MarketBeat.com.

ImmunoGen Company Profile (Get Rating)

ImmunoGen, Inc, a clinical-stage biotechnology company, develops antibody-drug conjugate (ADC) therapies for the treatment of cancer. The company’s product candidates include mirvetuximab soravtansine, an ADC targeting folate receptor alpha (FRa), which is in a Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; and Pivekimab sunirine, a CD123-targeted ADC that is in a phase II clinical trial for the treatment of acute myeloid leukemia and blast plasmacytoid dendritic cell neoplasm.

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Institutional Ownership by Quarter for ImmunoGen (NASDAQ:IMGN)



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