ImmunoGen, Inc. (NASDAQ:IMGN) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC grew its stake in shares of ImmunoGen, Inc. (NASDAQ:IMGN – Get Rating) by 9.6% during the third quarter, HoldingsChannel reports. The firm owned 110,444 shares of the biotechnology company’s stock after buying an additional 9,667 shares during the period. MetLife Investment Management LLC’s holdings in ImmunoGen were worth $528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Metropolitan Life Insurance Co NY increased its position in shares of ImmunoGen by 26.9% during the third 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 during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of ImmunoGen by 7.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 332,874 shares of the biotechnology company’s stock worth $1,591,000 after acquiring an additional 23,540 shares during the last quarter. Credit Suisse AG increased its position in shares of ImmunoGen by 8.0% during the third quarter. Credit Suisse AG now owns 277,669 shares of the biotechnology company’s stock worth $1,327,000 after acquiring an additional 20,624 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of 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 acquiring an additional 3,150 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its position in shares of ImmunoGen by 138.2% during the third quarter. ExodusPoint Capital Management LP now owns 360,717 shares of the biotechnology company’s stock worth $1,724,000 after acquiring an additional 209,281 shares during the last quarter. Institutional investors and hedge funds own 89.13% of the company’s stock.

ImmunoGen Stock Up 10.7 %

Shares of IMGN stock opened at $4.45 on Friday. The business has a 50 day moving average of $4.48 and a two-hundred day moving average of $5.11. ImmunoGen, Inc. has a 52 week low of $3.10 and a 52 week high of $6.63. The company has a market cap of $982.34 million, a P/E ratio of -5.43 and a beta of 0.95.

ImmunoGen (NASDAQ:IMGN – Get Rating) last issued its earnings results on Wednesday, March 1st. The biotechnology company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. ImmunoGen had a negative return on equity of 75.89% and a negative net margin of 210.33%. The company had revenue of $41.17 million during the quarter, compared to the consensus estimate of $17.18 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. ImmunoGen’s quarterly revenue was up 47.1% compared to the same quarter last year. Analysts expect that ImmunoGen, Inc. will post -0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IMGN. JPMorgan Chase & Co. lifted their target price on ImmunoGen from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. Guggenheim set a $22.00 price objective on ImmunoGen in a report on Thursday, November 17th. Truist Financial initiated coverage on ImmunoGen in a report on Monday, November 21st. They issued a “buy” rating and a $10.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of ImmunoGen in a report on Thursday. Finally, Canaccord Genuity Group boosted their price objective on 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 issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.29.

About ImmunoGen

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ImmunoGen, Inc engages in the discovery and development of antibody-drug conjugates to improve outcomes for cancer patients. Its pipeline includes Mirvetuximab Soravtansine, IMGN632, IMGC936, and IMGN151. The company was founded on March 27, 1981 and is headquartered in Waltham, MA.