DekaBank Deutsche Girozentrale grew its stake in ImmunoGen, Inc. (NASDAQ:IMGN) by 22.2% in the 1st quarter, HoldingsChannel reports. The firm owned 55,100 shares of the biotechnology company’s stock after purchasing an additional 10,000 shares during the period. DekaBank Deutsche Girozentrale’s holdings in ImmunoGen were worth $562,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its stake in ImmunoGen by 7.8% during the 4th quarter. BlackRock Inc. now owns 12,378,204 shares of the biotechnology company’s stock worth $59,416,000 after buying an additional 896,227 shares during the last quarter. Geode Capital Management LLC lifted its position in ImmunoGen by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 1,717,770 shares of the biotechnology company’s stock worth $8,245,000 after acquiring an additional 96,984 shares during the period. Pinnacle Associates Ltd. lifted its position in ImmunoGen by 76.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,607,596 shares of the biotechnology company’s stock worth $4,357,000 after acquiring an additional 698,820 shares during the period. Deutsche Bank AG lifted its holdings in shares of ImmunoGen by 154.6% in the 4th quarter. Deutsche Bank AG now owns 1,242,243 shares of the biotechnology company’s stock valued at $5,962,000 after buying an additional 754,366 shares during the period. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of ImmunoGen by 13.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 1,154,721 shares of the biotechnology company’s stock valued at $3,129,000 after buying an additional 133,582 shares during the period. Institutional investors and hedge funds own 79.29% of the company’s stock.
Shares of NASDAQ:IMGN opened at $2.05 on Thursday. ImmunoGen, Inc. has a one year low of $1.76 and a one year high of $12.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.72 and a quick ratio of 4.72.
ImmunoGen (NASDAQ:IMGN) last announced its earnings results on Friday, May 3rd. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.01. ImmunoGen had a negative net margin of 406.27% and a negative return on equity of 573.13%. The company had revenue of $8.60 million for the quarter, compared to the consensus estimate of $10.59 million. During the same period in the previous year, the business earned ($0.30) EPS. The company’s revenue was down 56.6% on a year-over-year basis. As a group, sell-side analysts forecast that ImmunoGen, Inc. will post -0.98 EPS for the current year.
Several research firms recently weighed in on IMGN. Zacks Investment Research downgraded ImmunoGen from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. ValuEngine downgraded ImmunoGen from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Cowen reaffirmed a “buy” rating on shares of ImmunoGen in a research report on Sunday, June 2nd. Guggenheim cut ImmunoGen from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th. Finally, Piper Jaffray Companies cut ImmunoGen from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $13.00 to $2.50 in a report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $3.03.
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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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