ImmunoGen, Inc. (NASDAQ:IMGN) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.93 and last traded at $2.09, with a volume of 16532250 shares. The stock had previously closed at $3.15.

A number of research firms have issued reports on IMGN. Zacks Investment Research lowered shares of ImmunoGen from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. ValuEngine downgraded shares of ImmunoGen from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Guggenheim downgraded shares of ImmunoGen from a “buy” rating to a “neutral” rating in a research report on Wednesday. HC Wainwright raised shares of ImmunoGen from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Monday, May 6th. Finally, Piper Jaffray Companies downgraded shares of ImmunoGen from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $13.00 to $2.50 in a research report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. ImmunoGen currently has an average rating of “Hold” and a consensus target price of $3.78.

The company has a market capitalization of $462.05 million, a P/E ratio of -1.81 and a beta of 2.12. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.19.

ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings data on Friday, May 3rd. The biotechnology company reported ($0.30) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.01. ImmunoGen had a negative net margin of 406.27% and a negative return on equity of 573.13%. The firm had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $10.59 million. During the same quarter last year, the business earned ($0.30) earnings per share. The business’s revenue for the quarter was down 56.6% compared to the same quarter last year. On average, research analysts forecast that ImmunoGen, Inc. will post -1.03 earnings per share for the current year.

In other news, VP Thomas Ryll sold 11,495 shares of ImmunoGen stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $5.60, for a total transaction of $64,372.00. Following the completion of the sale, the vice president now directly owns 87,184 shares in the company, valued at $488,230.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark J. Enyedy sold 51,070 shares of ImmunoGen stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $5.60, for a total transaction of $285,992.00. Following the sale, the chief executive officer now owns 483,768 shares of the company’s stock, valued at $2,709,100.80. The disclosure for this sale can be found here. Insiders own 4.44% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in ImmunoGen by 7.8% in the fourth quarter. BlackRock Inc. now owns 12,378,204 shares of the biotechnology company’s stock valued at $59,416,000 after purchasing an additional 896,227 shares during the period. Vanguard Group Inc grew its holdings in ImmunoGen by 4.0% in the third quarter. Vanguard Group Inc now owns 10,158,434 shares of the biotechnology company’s stock valued at $96,201,000 after purchasing an additional 390,917 shares during the period. Vanguard Group Inc. grew its holdings in ImmunoGen by 4.0% in the third quarter. Vanguard Group Inc. now owns 10,158,434 shares of the biotechnology company’s stock valued at $96,201,000 after purchasing an additional 390,917 shares during the period. Renaissance Technologies LLC grew its holdings in ImmunoGen by 13.9% in the first quarter. Renaissance Technologies LLC now owns 7,043,640 shares of the biotechnology company’s stock valued at $19,088,000 after purchasing an additional 861,500 shares during the period. Finally, Geode Capital Management LLC grew its holdings in ImmunoGen by 8.5% in the first quarter. Geode Capital Management LLC now owns 1,864,609 shares of the biotechnology company’s stock valued at $5,053,000 after purchasing an additional 146,839 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

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ImmunoGen Company Profile (NASDAQ:IMGN)

ImmunoGen, Inc, a clinical-stage biotechnology company, develops 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.

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