ImmunoGen, Inc. (NASDAQ:IMGN – Get Rating) traded down 5.4% during mid-day trading on Friday after HC Wainwright lowered their price target on the stock from $20.00 to $15.00. HC Wainwright currently has a buy rating on the stock. ImmunoGen traded as low as $4.84 and last traded at $4.88. 26,396 shares were traded during mid-day trading, a decline of 99% from the average session volume of 2,735,936 shares. The stock had previously closed at $5.16.
IMGN has been the topic of a number of other research reports. StockNews.com assumed coverage on shares of ImmunoGen in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Truist Financial assumed coverage on shares of ImmunoGen in a research report on Monday, November 21st. They set a “buy” rating and a $10.00 target price on the stock. Guggenheim set a $22.00 target price on shares of ImmunoGen in a research report on Thursday, November 17th. Barclays boosted their target price on shares of ImmunoGen from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Tuesday, November 15th. Finally, Canaccord Genuity Group upped their price objective on shares of ImmunoGen from $12.00 to $15.00 in a report on Wednesday, November 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.50.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY grew its stake in shares of ImmunoGen by 26.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 12,932 shares of the biotechnology company’s stock worth $62,000 after acquiring an additional 2,738 shares in the last quarter. Blair William & Co. IL boosted its position in ImmunoGen by 0.5% during the first quarter. Blair William & Co. IL now owns 538,410 shares of the biotechnology company’s stock worth $2,563,000 after purchasing an additional 2,925 shares during the period. WINTON GROUP Ltd boosted its position in ImmunoGen by 11.4% during the third quarter. WINTON GROUP Ltd now owns 30,882 shares of the biotechnology company’s stock worth $148,000 after purchasing an additional 3,150 shares during the period. Mackenzie Financial Corp boosted its position in ImmunoGen by 4.4% during the first quarter. Mackenzie Financial Corp now owns 80,816 shares of the biotechnology company’s stock worth $385,000 after purchasing an additional 3,370 shares during the period. Finally, Strs Ohio boosted its position in ImmunoGen by 3.1% during the second quarter. Strs Ohio now owns 132,000 shares of the biotechnology company’s stock worth $594,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 89.13% of the company’s stock.
ImmunoGen Price Performance
The stock has a market capitalization of $1.06 billion, a PE ratio of -5.95 and a beta of 1.00. The business’s fifty day moving average price is $5.30 and its 200-day moving average price is $5.20.
ImmunoGen (NASDAQ:IMGN – Get Rating) last announced its earnings results on Friday, November 4th. The biotechnology company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.05). ImmunoGen had a negative net margin of 210.33% and a negative return on equity of 75.89%. The company had revenue of $15.38 million during the quarter, compared to analysts’ expectations of $11.81 million. On average, analysts expect that ImmunoGen, Inc. will post -0.93 earnings per share for the current fiscal year.
ImmunoGen Company Profile
ImmunoGen, Inc, a clinical-stage biotechnology company, develops antibody-drug conjugate (ADC) therapies to treat cancer. The company’s product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; and Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.