Hedge Funds Are Selling ImmunoGen, Inc. (IMGN)

Page 1 of 2

ImmunoGen, Inc. (NASDAQ:IMGN) investors should pay attention to a decrease in hedge fund interest recently.

At the moment, there are dozens of methods market participants can use to monitor publicly traded companies. Some of the best are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite money managers can beat the S&P 500 by a healthy amount (see just how much).

Kerr Neilson

Just as key, positive insider trading sentiment is a second way to break down the marketplace. Obviously, there are a number of motivations for an upper level exec to drop shares of his or her company, but just one, very clear reason why they would buy. Many empirical studies have demonstrated the market-beating potential of this method if shareholders know what to do (learn more here).

Consequently, it’s important to take a glance at the latest action encompassing ImmunoGen, Inc. (NASDAQ:IMGN).

Hedge fund activity in ImmunoGen, Inc. (NASDAQ:IMGN)

At the end of the fourth quarter, a total of 5 of the hedge funds we track were bullish in this stock, a change of -17% from the third quarter. With hedgies’ capital changing hands, there exists a few notable hedge fund managers who were boosting their stakes considerably.

Of the funds we track, Sectoral Asset Management, managed by Jerome Pfund and Michael Sjostrom, holds the most valuable position in ImmunoGen, Inc. (NASDAQ:IMGN). Sectoral Asset Management has a $37 million position in the stock, comprising 1.3% of its 13F portfolio. Coming in second is Platinum Asset Management, managed by Kerr Neilson, which held a $0.8 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other hedgies that are bullish include Cliff Asness’s AQR Capital Management, Ken Griffin’s Citadel Investment Group and Glenn Russell Dubin’s Highbridge Capital Management.

Seeing as ImmunoGen, Inc. (NASDAQ:IMGN) has faced a declination in interest from the aggregate hedge fund industry, we can see that there were a few money managers that elected to cut their full holdings last quarter. At the top of the heap, Samuel Isaly’s OrbiMed Advisors sold off the biggest position of the 450+ funds we watch, valued at about $28.1 million in stock., and Louis Bacon of Moore Global Investments was right behind this move, as the fund dumped about $1.5 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest was cut by 1 funds last quarter.

What have insiders been doing with ImmunoGen, Inc. (NASDAQ:IMGN)?

Insider trading activity, especially when it’s bullish, is particularly usable when the company in focus has seen transactions within the past six months. Over the latest 180-day time period, ImmunoGen, Inc. (NASDAQ:IMGN) has experienced 1 unique insiders buying, and 2 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to ImmunoGen, Inc. (NASDAQ:IMGN). These stocks are Sarepta Therapeutics Inc (NASDAQ:SRPT), Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), Synageva BioPharma Corp (NASDAQ:GEVA), Nektar Therapeutics (NASDAQ:NKTR), and Acorda Therapeutics Inc (NASDAQ:ACOR). This group of stocks are in the biotechnology industry and their market caps are similar to IMGN’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!