DekaBank Deutsche Girozentrale Raises Stake in ImmunoGen, Inc. (NASDAQ:IMGN)

DekaBank Deutsche Girozentrale increased its stake in shares of ImmunoGen, Inc. (NASDAQ:IMGN) by 4.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 72,697 shares of the biotechnology company’s stock after purchasing an additional 2,797 shares during the period. DekaBank Deutsche Girozentrale’s holdings in ImmunoGen were worth $2,149,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IMGN. BluePath Capital Management LLC purchased a new stake in shares of ImmunoGen in the 3rd quarter valued at about $35,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of ImmunoGen in the 4th quarter valued at about $46,000. Bank of Montreal Can purchased a new stake in shares of ImmunoGen in the 2nd quarter valued at about $47,000. XTX Topco Ltd purchased a new stake in shares of ImmunoGen in the 1st quarter valued at about $62,000. Finally, PEAK6 Investments LLC purchased a new stake in shares of ImmunoGen in the 1st quarter valued at about $77,000. Hedge funds and other institutional investors own 90.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on ImmunoGen in a report on Wednesday. They issued a “hold” rating on the stock. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, ImmunoGen has an average rating of “Hold” and an average target price of $25.77.

Insider Buying and Selling

In related news, SVP Theresa Wingrove sold 187,667 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $29.64, for a total transaction of $5,562,449.88. Following the transaction, the senior vice president now directly owns 3,426 shares in the company, valued at approximately $101,546.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.07% of the stock is owned by corporate insiders.

ImmunoGen Price Performance

Shares of ImmunoGen stock opened at $31.23 on Friday. The business’s 50-day moving average price is $31.12 and its 200-day moving average price is $25.40. The company has a current ratio of 5.70, a quick ratio of 5.65 and a debt-to-equity ratio of 0.13. ImmunoGen, Inc. has a 12 month low of $3.61 and a 12 month high of $31.25. The firm has a market capitalization of $8.32 billion, a PE ratio of -100.74 and a beta of 1.18.

About ImmunoGen

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.