5 Growth Stocks Under $20 in Billionaire Ken Fisher’s Portfolio

3. ImmunoGen, Inc. (NASDAQ:IMGN)

Number of Hedge Fund Holders: 26

Price as of December 5, 2021: $6.62 per share    

ImmunoGen, Inc. (NASDAQ:IMGN) is a biotech firm that develops therapies for cancer. Securities filings show that Fisher Asset Management owned 84,798 shares in the company at the end of the third quarter of 2021 worth $481,000. 

On December 2, ImmunoGen, Inc. (NASDAQ:IMGN) announced that it had managed to raise over $257 million in capital through an equity offering of around 11 million common shares at $6.60 per share. The company will use the proceeds to fund operations and for business development.

At the end of the third quarter of 2021, 26 hedge funds in the database of Insider Monkey held stakes worth $362 million in ImmunoGen, Inc. (NASDAQ:IMGN), the same as in the preceding quarter worth $421 million.