Virginia Retirement Systems ET AL Makes New $76,000 Investment in ImmunoGen, Inc. (NASDAQ:IMGN)

Virginia Retirement Systems ET AL bought a new stake in ImmunoGen, Inc. (NASDAQ:IMGNGet Rating) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 10,200 shares of the biotechnology company’s stock, valued at approximately $76,000.

Several other institutional investors have also modified their holdings of the company. Marshall Wace North America L.P. acquired a new position in ImmunoGen during the first quarter valued at $52,000. Morgan Stanley increased its holdings in shares of ImmunoGen by 2.0% in the 2nd quarter. Morgan Stanley now owns 4,286,501 shares of the biotechnology company’s stock valued at $28,248,000 after purchasing an additional 82,522 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of ImmunoGen by 29.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 30,336 shares of the biotechnology company’s stock valued at $172,000 after purchasing an additional 6,830 shares during the period. SG Americas Securities LLC boosted its holdings in shares of ImmunoGen by 771.6% during the third quarter. SG Americas Securities LLC now owns 125,830 shares of the biotechnology company’s stock worth $713,000 after purchasing an additional 111,393 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in ImmunoGen during the third quarter valued at approximately $106,000. 87.26% of the stock is owned by institutional investors and hedge funds.

IMGN opened at $5.01 on Friday. The company has a market cap of $1.10 billion, a PE ratio of -7.48 and a beta of 1.25. The stock has a 50-day moving average of $5.16 and a 200-day moving average of $5.82. ImmunoGen, Inc. has a 52-week low of $3.83 and a 52-week high of $8.23.

ImmunoGen (NASDAQ:IMGNGet Rating) last posted its earnings results on Friday, February 25th. The biotechnology company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.01. ImmunoGen had a negative return on equity of 98.58% and a negative net margin of 199.41%. The firm had revenue of $28.00 million during the quarter, compared to analyst estimates of $25.93 million. During the same period in the previous year, the company earned $0.16 EPS. The company’s revenue for the quarter was down 67.4% on a year-over-year basis. On average, research analysts predict that ImmunoGen, Inc. will post -0.94 EPS for the current year.

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada lowered shares of ImmunoGen from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $9.00 to $6.00 in a research note on Monday, March 21st. TheStreet cut ImmunoGen from a “c-” rating to a “d” rating in a research report on Friday, February 25th. BMO Capital Markets started coverage on ImmunoGen in a research report on Friday, February 11th. They issued an “outperform” rating and a $18.00 target price on the stock. SVB Leerink reduced their price target on ImmunoGen from $7.00 to $5.00 and set a “market perform” rating for the company in a report on Tuesday, February 22nd. Finally, StockNews.com assumed coverage on ImmunoGen in a report on Thursday, March 31st. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.25.

About ImmunoGen (Get Rating)

ImmunoGen, Inc, a clinical-stage biotechnology company, develops antibody-drug conjugate (ADC) therapies to treat cancer. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; and Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.

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Institutional Ownership by Quarter for ImmunoGen (NASDAQ:IMGN)

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