Wall Street Analyst Downgrade ImmunoGen Inc. [IMGN]. What else is Wall St. saying

ImmunoGen Inc. [NASDAQ: IMGN] price plunged by -2.69 percent to reach at -$0.16. The company report on August 1, 2022 that ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).


Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .

Sponsored


ImmunoGen, Inc., (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that on July 29, 2022, the compensation committee of the Company’s Board of Directors approved grants of non-qualified stock option awards to purchase an aggregate of 667,800 shares of its common stock to sixteen new employees under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the “Inducement Plan”). The stock options were granted as an inducement material to the new employees’ becoming employees of ImmunoGen in accordance with Nasdaq Listing Rule 5635(c)(4).

The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of ImmunoGen (or following a bona fide period of non-employment), as an inducement material to such individual’s entering into employment with ImmunoGen, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

A sum of 3034017 shares traded at recent session while its average daily volume was at 3.52M shares. ImmunoGen Inc. shares reached a high of $5.97 and dropped to a low of $5.775 until finishing in the latest session at $5.78.

The one-year IMGN stock forecast points to a potential upside of 51.26. The average equity rating for IMGN stock is currently 1.90, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on ImmunoGen Inc. [IMGN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IMGN shares is $11.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IMGN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for ImmunoGen Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on March 21, 2022. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Outperform. The new note on the price target was released on February 11, 2022, representing the official price target for ImmunoGen Inc. stock. Previously, the target price had yet another raise from $7 to $12, while Jefferies kept a Buy rating on IMGN stock.

The Average True Range (ATR) for ImmunoGen Inc. is set at 0.34, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 13.77. The Price to Book ratio for the last quarter was 5.84, with the Price to Cash per share for the same quarter was set at 1.76.

IMGN Stock Performance Analysis:

ImmunoGen Inc. [IMGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.85. With this latest performance, IMGN shares gained by 12.89% in over the last four-week period, additionally sinking by -0.34% over the last 6 months – not to mention a rise of 8.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IMGN stock in for the last two-week period is set at 62.62, with the RSI for the last a single of trading hit 64.70, and the three-weeks RSI is set at 60.94 for ImmunoGen Inc. [IMGN]. The present Moving Average for the last 50 days of trading for this stock 4.76, while it was recorded at 5.64 for the last single week of trading, and 5.29 for the last 200 days.

Insight into ImmunoGen Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ImmunoGen Inc. [IMGN] shares currently have an operating margin of -174.80 and a Gross Margin at +97.11. ImmunoGen Inc.’s Net Margin is presently recorded at -199.41.

Return on Equity for this stock declined to -67.11, with Return on Assets sitting at -31.63.

ImmunoGen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.50 and a Current Ratio set at 4.50.

ImmunoGen Inc. [IMGN] Insider Position Details

There are presently around $1,145 million, or 95.30% of IMGN stock, in the hands of institutional investors. The top three institutional holders of IMGN stocks are: RA CAPITAL MANAGEMENT, L.P. with ownership of 21,741,458, which is approximately 0% of the company’s market cap and around 0.30% of the total institutional ownership; STATE STREET CORP, holding 18,199,554 shares of the stock with an approximate value of $105.19 million in IMGN stocks shares; and BLACKROCK INC., currently with $103.33 million in IMGN stock with ownership of nearly 8.789% of the company’s market capitalization.

Positions in ImmunoGen Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 92 institutional holders increased their position in ImmunoGen Inc. [NASDAQ:IMGN] by around 32,387,972 shares. Additionally, 106 investors decreased positions by around 26,683,669 shares, while 46 investors held positions by with 139,091,278 shares. The mentioned changes placed institutional holdings at 198,162,919 shares, according to the latest SEC report filing. IMGN stock had 25 new institutional investments in for a total of 8,089,815 shares, while 27 institutional investors sold positions of 3,833,330 shares during the same period.

LEAVE A REPLY

Please enter your comment!
Please enter your name here