Bank of New York Mellon Corp Sells 64,741 Shares of ImmunoGen Inc. (IMGN)
Bank of New York Mellon Corp lowered its stake in shares of ImmunoGen Inc. (NASDAQ:IMGN) by 13.9% during the second quarter, Holdings Channel reports. The firm owned 402,416 shares of the biotechnology company’s stock after selling 64,741 shares during the period. Bank of New York Mellon Corp owned approximately 0.46% of ImmunoGen worth $1,239,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of IMGN. BlackRock Fund Advisors raised its position in ImmunoGen by 2.0% in the first quarter. BlackRock Fund Advisors now owns 3,194,295 shares of the biotechnology company’s stock valued at $27,215,000 after buying an additional 61,325 shares during the period. Fisher Asset Management LLC raised its position in ImmunoGen by 3.9% in the second quarter. Fisher Asset Management LLC now owns 253,701 shares of the biotechnology company’s stock valued at $751,000 after buying an additional 9,476 shares during the period. Jacobs Levy Equity Management Inc. raised its position in ImmunoGen by 551.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 225,900 shares of the biotechnology company’s stock valued at $1,925,000 after buying an additional 191,200 shares during the period. Bellevue Group AG bought a new position in ImmunoGen during the first quarter valued at $256,000. Finally, BlackRock Group LTD raised its position in ImmunoGen by 10.9% in the first quarter. BlackRock Group LTD now owns 96,428 shares of the biotechnology company’s stock valued at $821,000 after buying an additional 9,496 shares during the period. Institutional investors own 91.63% of the company’s stock.
Shares of ImmunoGen Inc. (NASDAQ:IMGN) traded down 1.21% on Thursday, reaching $2.44. 397,070 shares of the company’s stock were exchanged. The company’s market cap is $213.08 million. ImmunoGen Inc. has a 12 month low of $2.42 and a 12 month high of $14.22. The firm’s 50-day moving average price is $2.76 and its 200 day moving average price is $4.58.
ImmunoGen (NASDAQ:IMGN) last issued its earnings results 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. The firm had revenue of $7.41 million for the quarter, compared to the consensus estimate of $17.11 million. The business’s revenue for the quarter was down 41.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.35) earnings per share. Equities research analysts predict that ImmunoGen Inc. will post ($1.59) EPS for the current fiscal year.
IMGN has been the topic of several recent research reports. Zacks Investment Research lowered ImmunoGen from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. JPMorgan Chase & Co. set a $5.00 price target on ImmunoGen and gave the company a “hold” rating in a research report on Friday, August 5th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $6.00 price target (down from $13.00) on shares of ImmunoGen in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. ImmunoGen currently has an average rating of “Hold” and a consensus price target of $10.99.
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.
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