ImmunoGen Inc. (NASDAQ:IMGN)’s share price was down 2.5% during mid-day trading on Tuesday . The stock traded as low as $3.10 and last traded at $3.14, with a volume of 335,894 shares traded. The stock had previously closed at $3.22.

Several equities analysts have recently issued reports on IMGN shares. Canaccord Genuity restated a “buy” rating on shares of ImmunoGen in a research report on Saturday, April 30th. Zacks Investment Research lowered ImmunoGen from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Royal Bank Of Canada lowered ImmunoGen from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $18.00 to $7.00 in a research report on Friday, April 29th. JPMorgan Chase & Co. set a $5.00 price objective on ImmunoGen and gave the company a “hold” rating in a research report on Friday, August 5th. Finally, Cowen and Company reiterated a “hold” rating on shares of ImmunoGen in a research report on Monday, June 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. ImmunoGen currently has a consensus rating of “Hold” and a consensus target price of $11.72.

The company’s 50 day moving average is $2.98 and its 200-day moving average is $5.99. The stock’s market cap is $268.56 million.

ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings data 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. During the same period last year, the business earned ($0.35) EPS. The firm earned $7.41 million during the quarter, compared to the consensus estimate of $17.11 million. ImmunoGen’s revenue was down 41.2% compared to the same quarter last year. On average, equities analysts expect that ImmunoGen Inc. will post ($1.61) earnings per share for the current fiscal year.

Several institutional investors recently modified their holdings of the company. Airain ltd increased its position in shares of ImmunoGen by 120.9% in the fourth quarter. Airain ltd now owns 84,290 shares of the biotechnology company’s stock worth $1,144,000 after buying an additional 46,134 shares during the period. Rhumbline Advisers increased its position in shares of ImmunoGen by 7.1% in the fourth quarter. Rhumbline Advisers now owns 93,829 shares of the biotechnology company’s stock worth $1,273,000 after buying an additional 6,255 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its position in shares of ImmunoGen by 91.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 227,703 shares of the biotechnology company’s stock worth $3,090,000 after buying an additional 108,703 shares during the period.

ImmunoGen, Inc (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Company’s clinical and preclinical product candidates are antibody-drug conjugates (ADCs), which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells.

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