ImmunoGen Inc. (NASDAQ:IMGN) shares saw unusually-high trading volume on Wednesday . Approximately 1,383,623 shares traded hands during trading, an increase of 16% from the previous session’s volume of 1,194,529 shares.The stock last traded at $3.11 and had previously closed at $3.06.

IMGN has been the topic of a number of analyst reports. Canaccord Genuity reaffirmed a “buy” rating on shares of ImmunoGen in a research note on Saturday, April 30th. Zacks Investment Research lowered ImmunoGen from a “hold” rating to a “sell” rating in a research note 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 note 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 note on Friday, August 5th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a research note 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 company’s stock. The stock presently has an average rating of “Hold” and an average price target of $11.72.

The company has a 50-day moving average price of $2.98 and a 200-day moving average price of $5.93. The stock’s market cap is $272.07 million.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.12. The firm earned $7.41 million during the quarter, compared to the consensus estimate of $17.11 million. The business’s quarterly revenue was down 41.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.35) earnings per share. Analysts anticipate that ImmunoGen Inc. will post ($1.61) earnings per share for the current year.

Other hedge funds have recently bought and sold shares of the company. Airain ltd increased its stake in 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 in the last quarter. Rhumbline Advisers raised its stake 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. raised its stake 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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