Swiss National Bank Raises Holdings in ImmunoGen, Inc. (NASDAQ:IMGN)

Swiss National Bank boosted its position in ImmunoGen, Inc. (NASDAQ:IMGNGet Rating) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 479,100 shares of the biotechnology company’s stock after purchasing an additional 33,800 shares during the quarter. Swiss National Bank owned about 0.22% of ImmunoGen worth $2,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in shares of ImmunoGen by 4.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 61,561 shares of the biotechnology company’s stock valued at $457,000 after buying an additional 2,406 shares during the last quarter. TFC Financial Management grew its stake in ImmunoGen by 18.1% during the 1st quarter. TFC Financial Management now owns 17,950 shares of the biotechnology company’s stock valued at $85,000 after acquiring an additional 2,750 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in ImmunoGen by 14.6% in the 1st quarter. Kestra Advisory Services LLC now owns 23,468 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 2,985 shares during the last quarter. ProShare Advisors LLC lifted its stake in ImmunoGen by 4.6% in the 4th quarter. ProShare Advisors LLC now owns 71,750 shares of the biotechnology company’s stock worth $533,000 after purchasing an additional 3,163 shares in the last quarter. Finally, Fernwood Investment Management LLC boosted its holdings in shares of ImmunoGen by 2.3% during the 4th quarter. Fernwood Investment Management LLC now owns 154,840 shares of the biotechnology company’s stock worth $1,149,000 after purchasing an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded ImmunoGen from a “hold” rating to a “sell” rating in a research report on Monday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.25.

ImmunoGen Price Performance

ImmunoGen stock opened at $5.81 on Thursday. The firm has a 50 day simple moving average of $5.24 and a 200-day simple moving average of $4.84. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -8.42 and a beta of 0.97. ImmunoGen, Inc. has a 1-year low of $3.10 and a 1-year high of $7.77.

ImmunoGen (NASDAQ:IMGNGet Rating) last issued its quarterly earnings data on Friday, July 29th. The biotechnology company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). ImmunoGen had a negative return on equity of 67.02% and a negative net margin of 179.64%. The business had revenue of $14.20 million during the quarter, compared to analysts’ expectations of $16.18 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue was down 16.0% on a year-over-year basis. Equities analysts expect that ImmunoGen, Inc. will post -0.89 earnings per share for the current fiscal year.

ImmunoGen Profile

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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.

Further Reading

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Institutional Ownership by Quarter for ImmunoGen (NASDAQ:IMGN)

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