Swiss National Bank raised its position in ImmunoGen Inc. (NASDAQ:IMGN) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,400 shares of the biotechnology company’s stock after buying an additional 3,300 shares during the period. Swiss National Bank owned about 0.18% of ImmunoGen worth $491,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. BB&T Securities LLC increased its position in shares of ImmunoGen by 10.0% in the first quarter. BB&T Securities LLC now owns 22,727 shares of the biotechnology company’s stock worth $193,000 after buying an additional 2,065 shares during the period. Bellevue Group AG acquired a new position in shares of ImmunoGen during the first quarter worth approximately $256,000. Quantitative Investment Management LLC increased its position in shares of ImmunoGen by 844.0% in the second quarter. Quantitative Investment Management LLC now owns 195,400 shares of the biotechnology company’s stock worth $601,000 after buying an additional 174,700 shares during the period. Fisher Asset Management LLC increased its position in shares of ImmunoGen by 3.9% in the second quarter. Fisher Asset Management LLC now owns 253,701 shares of the biotechnology company’s stock worth $751,000 after buying an additional 9,476 shares during the period. Finally, BlackRock Group LTD increased its position in shares of ImmunoGen by 10.9% in the first quarter. BlackRock Group LTD now owns 96,428 shares of the biotechnology company’s stock worth $821,000 after buying an additional 9,496 shares during the period. 91.67% of the stock is owned by institutional investors.
Shares of ImmunoGen Inc. (NASDAQ:IMGN) traded up 1.76% during midday trading on Monday, hitting $2.31. 436,740 shares of the stock were exchanged. The company’s market cap is $201.72 million. ImmunoGen Inc. has a 12 month low of $2.21 and a 12 month high of $14.22. The stock has a 50 day moving average price of $2.72 and a 200-day moving average price of $4.52.
ImmunoGen (NASDAQ:IMGN) last released its earnings results on Thursday, August 4th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.12. The business had revenue of $7.41 million for the quarter, compared to the consensus estimate of $17.11 million. The firm’s quarterly revenue was down 41.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.35) EPS. On average, analysts predict that ImmunoGen Inc. will post ($1.59) EPS for the current year.
A number of equities analysts recently commented on the stock. Jefferies Group reissued a “buy” rating and issued a $6.00 price objective (down previously from $13.00) on shares of ImmunoGen in a research note on Friday, August 5th. Zacks Investment Research raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. set a $5.00 price target on shares of ImmunoGen and gave the stock a “hold” rating in a report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. ImmunoGen presently has a consensus rating of “Hold” and a consensus price target of $10.99.
ImmunoGen Company Profile
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.