grace capital purchased a new stake in ImmunoGen, Inc. (NASDAQ:IMGN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,500 shares of the biotechnology company’s stock, valued at approximately $384,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IMGN. Redmile Group LLC raised its stake in ImmunoGen by 26.9% in the 2nd quarter. Redmile Group LLC now owns 12,315,942 shares of the biotechnology company’s stock valued at $119,834,000 after acquiring an additional 2,613,460 shares during the period. FMR LLC raised its stake in ImmunoGen by 34.0% in the 2nd quarter. FMR LLC now owns 8,704,234 shares of the biotechnology company’s stock valued at $84,692,000 after acquiring an additional 2,208,796 shares during the period. BlackRock Inc. raised its stake in ImmunoGen by 24.9% in the 2nd quarter. BlackRock Inc. now owns 10,436,350 shares of the biotechnology company’s stock valued at $101,546,000 after acquiring an additional 2,079,732 shares during the period. Point72 Asset Management L.P. bought a new stake in ImmunoGen in the 2nd quarter valued at $20,004,000. Finally, Voya Investment Management LLC raised its stake in ImmunoGen by 4,117.8% in the 2nd quarter. Voya Investment Management LLC now owns 1,849,256 shares of the biotechnology company’s stock valued at $17,993,000 after acquiring an additional 1,805,412 shares during the period. Institutional investors and hedge funds own 83.77% of the company’s stock.

Shares of NASDAQ IMGN opened at $9.26 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.76 and a quick ratio of 5.73. ImmunoGen, Inc. has a one year low of $4.80 and a one year high of $13.41.

ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings data on Friday, July 27th. The biotechnology company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The business had revenue of $9.29 million during the quarter, compared to analysts’ expectations of $14.12 million. During the same quarter last year, the company posted ($0.10) earnings per share. ImmunoGen’s quarterly revenue was down 76.2% on a year-over-year basis. equities analysts predict that ImmunoGen, Inc. will post -1.19 earnings per share for the current fiscal year.

In other ImmunoGen news, VP Anna Berkenblit sold 5,851 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $9.46, for a total value of $55,350.46. Following the transaction, the vice president now directly owns 138,620 shares of the company’s stock, valued at approximately $1,311,345.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.44% of the company’s stock.

IMGN has been the topic of a number of research analyst reports. HC Wainwright set a $18.00 price target on ImmunoGen and gave the company a “buy” rating in a research note on Thursday, May 17th. Cowen restated a “hold” rating on shares of ImmunoGen in a research note on Thursday, May 17th. ValuEngine upgraded ImmunoGen from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 2nd. Finally, BidaskClub cut ImmunoGen from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $12.42.

About ImmunoGen

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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Institutional Ownership by Quarter for ImmunoGen (NASDAQ:IMGN)

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