149,510 Shares in ImmunoGen, Inc. (NASDAQ:IMGN) Bought by Readystate Asset Management LP

Readystate Asset Management LP purchased a new position in shares of ImmunoGen, Inc. (NASDAQ:IMGN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 149,510 shares of the biotechnology company’s stock, valued at approximately $4,433,000.

A number of other large investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its stake in ImmunoGen by 8.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,970 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 540 shares during the period. Amalgamated Bank lifted its stake in shares of ImmunoGen by 2.1% in the 3rd quarter. Amalgamated Bank now owns 31,076 shares of the biotechnology company’s stock worth $493,000 after acquiring an additional 652 shares during the period. Arizona State Retirement System lifted its stake in shares of ImmunoGen by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 62,272 shares of the biotechnology company’s stock worth $988,000 after acquiring an additional 842 shares during the period. Parallel Advisors LLC lifted its stake in shares of ImmunoGen by 3,028.6% in the 4th quarter. Parallel Advisors LLC now owns 876 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 848 shares during the period. Finally, DCF Advisers LLC lifted its stake in shares of ImmunoGen by 8.9% in the 4th quarter. DCF Advisers LLC now owns 14,000 shares of the biotechnology company’s stock worth $415,000 after acquiring an additional 1,150 shares during the period. Institutional investors and hedge funds own 90.50% of the company’s stock.

ImmunoGen Stock Performance

Shares of IMGN remained flat at $31.23 during trading hours on Wednesday. 40 shares of the stock were exchanged, compared to its average volume of 8,778,325. The firm has a 50-day moving average of $31.20 and a 200 day moving average of $25.76. The company has a quick ratio of 5.65, a current ratio of 5.70 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $8.32 billion, a P/E ratio of -100.74 and a beta of 1.18. ImmunoGen, Inc. has a 1-year low of $3.61 and a 1-year high of $31.25.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of ImmunoGen in a research note on Wednesday, April 10th. They issued a “hold” rating for the company. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.77.

About ImmunoGen

ImmunoGen, Inc, a commercial-stage biotechnology company, focuses on developing and commercializing the antibody-drug conjugates (ADCs) for cancer patients. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), for the treatment of platinum-resistant ovarian cancer; and a cell-surface protein expressed in various epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers, as well as Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.