ImmunoGen, Inc. (NASDAQ:IMGN) hit a new 52-week low on Thursday . The stock traded as low as $5.11 and last traded at $5.51, with a volume of 97704 shares changing hands. The stock had previously closed at $5.54.

A number of equities research analysts have commented on IMGN shares. BidaskClub raised shares of ImmunoGen from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 14th. Zacks Investment Research upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Piper Jaffray Companies started coverage on shares of ImmunoGen in a research note on Thursday, September 6th. They set an “overweight” rating on the stock. Guggenheim started coverage on shares of ImmunoGen in a research note on Monday, September 17th. They set a “buy” rating on the stock. Finally, ValuEngine cut shares of ImmunoGen from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $14.60.

The firm has a market capitalization of $815.53 million, a PE ratio of -7.12 and a beta of 2.56. The company has a current ratio of 4.59, a quick ratio of 4.56 and a debt-to-equity ratio of 0.04.

ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings data on Friday, November 2nd. The biotechnology company reported ($0.32) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.01. The firm had revenue of $10.90 million for the quarter, compared to analyst estimates of $13.60 million. ImmunoGen had a negative net margin of 176.35% and a negative return on equity of 673.66%. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.61) earnings per share. Analysts predict that ImmunoGen, Inc. will post -1.24 earnings per share for the current fiscal year.

In other news, Director Mark Alan Goldberg bought 30,000 shares of ImmunoGen stock in a transaction on Tuesday, November 6th. The shares were bought at an average cost of $5.76 per share, with a total value of $172,800.00. Following the completion of the purchase, the director now directly owns 53,800 shares of the company’s stock, valued at $309,888. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Anna Berkenblit sold 5,851 shares of ImmunoGen stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $8.00, for a total transaction of $46,808.00. Following the sale, the vice president now owns 132,769 shares of the company’s stock, valued at $1,062,152. The disclosure for this sale can be found here. Company insiders own 4.44% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in IMGN. State of Wisconsin Investment Board grew its holdings in shares of ImmunoGen by 28.2% in the second quarter. State of Wisconsin Investment Board now owns 130,500 shares of the biotechnology company’s stock valued at $1,270,000 after purchasing an additional 28,700 shares in the last quarter. Raymond James & Associates grew its holdings in shares of ImmunoGen by 3.8% in the second quarter. Raymond James & Associates now owns 648,758 shares of the biotechnology company’s stock valued at $6,312,000 after purchasing an additional 23,459 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of ImmunoGen by 14,391.1% in the second quarter. Bank of Montreal Can now owns 96,076 shares of the biotechnology company’s stock valued at $935,000 after purchasing an additional 95,413 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of ImmunoGen by 21.7% in the second quarter. Bank of America Corp DE now owns 1,213,221 shares of the biotechnology company’s stock valued at $11,804,000 after purchasing an additional 216,420 shares in the last quarter. Finally, Redmile Group LLC grew its holdings in shares of ImmunoGen by 26.9% in the second quarter. Redmile Group LLC now owns 12,315,942 shares of the biotechnology company’s stock valued at $119,834,000 after purchasing an additional 2,613,460 shares in the last quarter. Institutional investors and hedge funds own 83.73% of the company’s stock.

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About ImmunoGen (NASDAQ:IMGN)

ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.

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