ImmunoGen, Inc. (IMGN) Position Increased by Baxter Bros Inc.

Baxter Bros Inc. increased its holdings in ImmunoGen, Inc. (NASDAQ:IMGN) by 133.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,300 shares of the biotechnology company’s stock after purchasing an additional 38,500 shares during the quarter. Baxter Bros Inc.’s holdings in ImmunoGen were worth $182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of IMGN. Natixis Advisors L.P. boosted its position in ImmunoGen by 4.5% during the 4th quarter. Natixis Advisors L.P. now owns 113,727 shares of the biotechnology company’s stock valued at $545,000 after acquiring an additional 4,917 shares in the last quarter. Jane Street Group LLC boosted its position in ImmunoGen by 449.8% during the 4th quarter. Jane Street Group LLC now owns 70,731 shares of the biotechnology company’s stock valued at $340,000 after acquiring an additional 57,865 shares in the last quarter. MetLife Investment Advisors LLC boosted its position in ImmunoGen by 61.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 96,466 shares of the biotechnology company’s stock valued at $914,000 after acquiring an additional 36,720 shares in the last quarter. Alps Advisors Inc. boosted its position in ImmunoGen by 30.7% during the 4th quarter. Alps Advisors Inc. now owns 344,561 shares of the biotechnology company’s stock valued at $1,654,000 after acquiring an additional 80,850 shares in the last quarter. Finally, Man Group plc boosted its position in ImmunoGen by 1,474.9% during the 3rd quarter. Man Group plc now owns 359,200 shares of the biotechnology company’s stock valued at $3,402,000 after acquiring an additional 336,392 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors.

In related news, VP Thomas Ryll sold 11,495 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $5.60, for a total value of $64,372.00. Following the completion of the transaction, the vice president now directly owns 87,184 shares in the company, valued at approximately $488,230.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark J. Enyedy sold 51,070 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $5.60, for a total transaction of $285,992.00. Following the completion of the transaction, the chief executive officer now owns 483,768 shares of the company’s stock, valued at $2,709,100.80. The disclosure for this sale can be found here. Insiders own 4.44% of the company’s stock.

Several analysts have weighed in on IMGN shares. HC Wainwright cut ImmunoGen from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $3.50 in a research report on Monday, March 4th. BidaskClub cut ImmunoGen from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 31st. JPMorgan Chase & Co. cut ImmunoGen from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 19th. ValuEngine cut ImmunoGen from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Finally, Svb Leerink cut ImmunoGen from an “outperform” rating to a “market perform” rating in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. ImmunoGen currently has an average rating of “Hold” and a consensus price target of $7.17.

Shares of IMGN traded down $0.11 during mid-day trading on Monday, reaching $2.35. The company had a trading volume of 20,135 shares, compared to its average volume of 2,235,277. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 0.19. ImmunoGen, Inc. has a 52 week low of $2.27 and a 52 week high of $12.31. The stock has a market cap of $356.34 million, a P/E ratio of -1.97 and a beta of 2.22.

ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings results on Friday, February 8th. The biotechnology company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. ImmunoGen had a negative return on equity of 599.63% and a negative net margin of 311.94%. The firm had revenue of $13.79 million for the quarter, compared to analysts’ expectations of $12.42 million. During the same period in the previous year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was down 65.0% compared to the same quarter last year. On average, equities analysts anticipate that ImmunoGen, Inc. will post -1.2 EPS for the current year.

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About ImmunoGen

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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Institutional Ownership by Quarter for ImmunoGen (NASDAQ:IMGN)

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