ImmunoGen (NASDAQ:IMGN) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, ValuEngine reports.
Several other analysts also recently commented on the company. BidaskClub raised ImmunoGen from a “sell” rating to a “hold” rating in a research note on Thursday, January 30th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective (up from $5.00) on shares of ImmunoGen in a research note on Tuesday, December 17th. Finally, Cowen reaffirmed a “buy” rating on shares of ImmunoGen in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $4.28.
IMGN opened at $6.80 on Friday. The business has a 50 day moving average price of $4.82 and a two-hundred day moving average price of $3.52. The company has a market cap of $802.37 million, a PE ratio of -6.67 and a beta of 2.57. ImmunoGen has a 52 week low of $1.76 and a 52 week high of $7.07.
Institutional investors and hedge funds have recently bought and sold shares of the business. Voloridge Investment Management LLC purchased a new stake in ImmunoGen during the 3rd quarter valued at approximately $166,000. State Street Corp raised its stake in shares of ImmunoGen by 110.3% during the 3rd quarter. State Street Corp now owns 6,209,347 shares of the biotechnology company’s stock worth $15,027,000 after buying an additional 3,256,351 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of ImmunoGen during the 3rd quarter worth approximately $27,000. Squarepoint Ops LLC raised its stake in shares of ImmunoGen by 1,306.4% during the 3rd quarter. Squarepoint Ops LLC now owns 601,826 shares of the biotechnology company’s stock worth $1,456,000 after buying an additional 559,035 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of ImmunoGen during the 3rd quarter worth approximately $81,000. 69.25% of the stock is owned by hedge funds and other institutional investors.
ImmunoGen Company Profile
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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