ImmunoGen, Inc. (NASDAQ:IMGN) SVP Sells $1,255,479.15 in Stock

ImmunoGen, Inc. (NASDAQ:IMGN) SVP Stacy Ann Coen sold 78,223 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $16.05, for a total transaction of $1,255,479.15. Following the completion of the sale, the senior vice president now owns 36,966 shares of the company’s stock, valued at approximately $593,304.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

ImmunoGen Stock Performance

NASDAQ:IMGN opened at $16.11 on Friday. ImmunoGen, Inc. has a 1 year low of $3.61 and a 1 year high of $20.69. The firm’s fifty day simple moving average is $15.08 and its 200 day simple moving average is $15.80. The company has a current ratio of 5.70, a quick ratio of 5.65 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.29 billion, a PE ratio of -51.97 and a beta of 0.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Putnam Investments LLC grew its stake in ImmunoGen by 2.7% in the 1st quarter. Putnam Investments LLC now owns 1,151,153 shares of the biotechnology company’s stock valued at $4,420,000 after buying an additional 29,841 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in ImmunoGen in the 2nd quarter valued at $150,000. Artisan Partners Limited Partnership acquired a new position in ImmunoGen in the 1st quarter valued at $12,216,000. Bank of New York Mellon Corp boosted its holdings in ImmunoGen by 39.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,092,993 shares of the biotechnology company’s stock valued at $20,625,000 after purchasing an additional 310,960 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in ImmunoGen by 7.2% in the 2nd quarter. Mackenzie Financial Corp now owns 17,853 shares of the biotechnology company’s stock valued at $336,000 after purchasing an additional 1,200 shares during the period. 90.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IMGN. JPMorgan Chase & Co. upgraded shares of ImmunoGen from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $9.00 to $22.00 in a research report on Wednesday, September 13th. Barclays increased their target price on shares of ImmunoGen from $20.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Canaccord Genuity Group increased their price target on shares of ImmunoGen from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. BMO Capital Markets increased their price target on shares of ImmunoGen from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Finally, Oppenheimer initiated coverage on shares of ImmunoGen in a research note on Thursday, October 5th. They set a “market perform” rating and a $16.00 price target on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, ImmunoGen presently has an average rating of “Moderate Buy” and a consensus price target of $22.56.

ImmunoGen Company Profile

ImmunoGen, Inc, a commercial-stage biotechnology company, focuses on developing and commercializing the antibody-drug conjugates (ADCs) for cancer patients. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), for the treatment of platinum-resistant ovarian cancer; and a cell-surface protein expressed in various epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers, as well as Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.