Russell Investments Group Ltd. decreased its holdings in ImmunoGen, Inc. (NASDAQ:IMGN) by 21.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,920 shares of the biotechnology company’s stock after selling 26,701 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of ImmunoGen worth $734,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Chicago Equity Partners LLC raised its position in ImmunoGen by 124.7% in the 3rd quarter. Chicago Equity Partners LLC now owns 490,635 shares of the biotechnology company’s stock valued at $3,753,000 after purchasing an additional 272,315 shares during the last quarter. David R. Rahn & Associates Inc. purchased a new stake in ImmunoGen in the 3rd quarter valued at $1,489,000. Paulson & CO. Inc. acquired a new position in ImmunoGen in the 2nd quarter valued at $1,630,000. Intl Fcstone Inc. acquired a new position in ImmunoGen in the 2nd quarter valued at $115,000. Finally, Bank of Nova Scotia acquired a new position in ImmunoGen in the 2nd quarter valued at $591,000. Hedge funds and other institutional investors own 68.02% of the company’s stock.
ImmunoGen, Inc. (NASDAQ:IMGN) opened at $6.41 on Tuesday. The company has a debt-to-equity ratio of -0.03, a current ratio of 2.81 and a quick ratio of 2.78. The stock has a market cap of $847.72, a price-to-earnings ratio of -4.93 and a beta of 2.20. ImmunoGen, Inc. has a 12 month low of $1.71 and a 12 month high of $8.84.
Several equities analysts have issued reports on the stock. ValuEngine cut shares of ImmunoGen from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Cantor Fitzgerald reissued a “hold” rating and issued a $5.00 price objective on shares of ImmunoGen in a research note on Monday, September 25th. Jefferies Group reissued a “buy” rating and issued a $9.00 price objective on shares of ImmunoGen in a research note on Thursday, October 12th. Finally, Zacks Investment Research raised shares of ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $7.83.
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ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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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