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Jennison Associates LLC has invested $29.62 million in ImmunoGen, Inc. (NASDAQ:IMGN)

Jennison Associates LLC has invested $29.62 million in ImmunoGen, Inc. (NASDAQ:IMGN)

In its most recent filing with the Securities and Exchange Commission, ImmunoGen, Inc. (NASDAQ: IMGN) mentioned that Jennison Associates LLC increased its holdings during the third quarter (SEC). The institutional investor purchased a total of 6,197,480 shares of stock in the biotechnology company at approximately $29,624,000. Jennison Associates LLC owned approximately 2.81 percent of ImmunoGen as of the most recent fiscal quarter.

Over the most recent few months, several other institutional investors and hedge funds have modified the total number of IMGN shares they possess. By the end of the second quarter, the total value of Deerfield Management Company L.P. Series C’s holdings in ImmunoGen had increased by 332.8 percent. Deerfield Management Company L.P. Series C now holds a total of 15,020,490 shares of the biotechnology company’s stock, which are currently valued at $67,592,000 following the purchase of an additional 11,549,815 shares during the most recent quarter. This brings the total number of shares held by the fund to 15,020,490. During the first three months of 2018, State Street Corporation’s holdings in ImmunoGen saw a 69.9% increase in the company’s investment. State Street Corp. now holds a total of 13,707,389 shares in the company, which has a market cap of $65,247,000, following the purchase of an additional 5,638,822 shares during the most recent quarter. The value of BlackRock Inc.’s holdings in ImmunoGen increased by 10.6% during the first three months of 2018. BlackRock Inc. now owns 16,432,933 shares of the biotechnology company’s stock, with an estimated market value of $78,225,000. This is a result of the company’s purchase of an additional 1,569,629 shares during the most recent fiscal quarter. After increasing its ownership in the company, Candriam S.C.A. made a new investment purchase during the second quarter that cost approximately $4,754,000. This investment was made in ImmunoGen. The last and most significant point is that Monarch Partners Asset Management LLC acquired a new interest in ImmunoGen during the third quarter for approximately $3,226,000. This was the transaction that marked the completion of the acquisition. Institutional investors and hedge funds collectively own 89.13% of the total number of shares in the company, making up the majority of the shareholders.

Recent times have seen several stock research analysts produce studies on the company, which they have compiled and analyzed individually. Guggenheim suggested that the appropriate price for ImmunoGen would be $22.00 in a research report published on Thursday, November 17. On October 12, a Wednesday, StockNews.com covered ImmunoGen as part of their news coverage. They recommended “selling” the stock to prospective buyers. The target price for ImmunoGen was increased from $8.00 to $9.00, and the company was given an “overweight” rating in a research report published by Barclays on Tuesday, November 15. In a research report made public on November 16, Canaccord Genuity Group announced that they were increasing their target price for ImmunoGen from $12.00 to $15.00. The previous target price was $12.00. After a considerable amount of time had passed, on November 21, Trust Financial finally began reporting on ImmunoGen. They suggested that the stock be purchased and established a price objective of $10.00 for the stock. There has been one recommendation from a financial analyst to sell the stock, two to hold the stock, and four to buy the stock. According to the data provided by Bloomberg, the current average rating for ImmunoGen is “Hold,” and the consensus price target for the company is $12.50. Furthermore, the average price target is $12.50.

On Tuesday morning, a share of IMGN was $4.53 when trading got underway. During the most recent 52 weeks, a share of ImmunoGen, Inc. has ranged from $3.10 to $6.63, with a price of $6.63 serving the average. Th

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