Hedge Funds Are Selling ImmunoGen, Inc. (IMGN)

Since ImmunoGen, Inc. (NASDAQ:IMGN) has faced declining sentiment from the entirety of the hedge funds we track, it’s easy to see that there were a few hedgies that decided to sell off their entire stakes by the end of the third quarter. It’s worth mentioning that Oleg Nodelman’s EcoR1 Capital cashed in the largest stake of all the hedgies tracked by Insider Monkey, valued at about $0.9 million in call options, and Ori Hershkovitz’s Nexthera Capital was right behind this move, as the fund cut about $0.4 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as ImmunoGen, Inc. (NASDAQ:IMGN) but similarly valued. We will take a look at TerraVia Holdings, Inc. (NASDAQ:TVIA), Capital Southwest Corporation (NASDAQ:CSWC), Fluidigm Corporation (NASDAQ:FLDM), and CSS Industries, Inc. (NYSE:CSS). This group of stocks’ market values are closest to IMGN’s market value.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $37 million. That figure was $38 million in IMGN’s case. Capital Southwest Corporation (NASDAQ:CSWC) is the most popular stock in this table. On the other hand TerraVia Holdings, Inc. (NASDAQ:TVIA) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks ImmunoGen, Inc. (NASDAQ:IMGN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None