5 Best Performing Stocks in the Last 6 Months

2. ImmunoGen, Inc. (NASDAQ:IMGN)

6-Month Share Price Gains as of August 15: 265.48%

Number of Hedge Fund Holders: 22

ImmunoGen, Inc. (NASDAQ:IMGN), a biotechnology company in the commercial-stage, is one of the top performing stocks from the last 6 months. It focuses on the advancement and marketing of antibody-drug conjugates (ADCs) to benefit cancer patients. On July 31, ImmunoGen, Inc. (NASDAQ:IMGN) reported a Q2 GAAP EPS of -$0.02 and a revenue of $83.15 million, outperforming Wall Street estimates by $0.12 and $36.55 million, respectively.

According to Insider Monkey’s first quarter database, 22 hedge funds were bullish on ImmunoGen, Inc. (NASDAQ:IMGN), compared to 28 funds in the previous quarter. Peter Kolchinsky’s RA Capital Management held the largest position in the company, with 21.8 million shares valued at $83.9 million.

ClearBridge Multi Cap Growth Strategy made the following comment about ImmunoGen, Inc. (NASDAQ:IMGN) in its Q4 2022 investor letter:

“During the quarter we exited a position in ImmunoGen, Inc. (NASDAQ:IMGN), a biotechnology company developing antibody-drug conjugate therapies to treat cancer. ImmunoGen received FDA approval for Elahere for ovarian cancer, however it is a relatively modest opportunity and the company still faces a long road to reach meaningful profitability. The sale is also part of our effort to consolidate the portfolio in our highest conviction ideas.”