ImmunoGen Inc. [IMGN] Is Currently 0.83 below its 200 Period Moving Avg: What Does This Mean?

ImmunoGen Inc. [NASDAQ: IMGN] price surged by 0.83 percent to reach at $0.05. The company report on October 20, 2022 that ImmunoGen Announces Conference Call to Discuss Its Third Quarter 2022 Operating Results.

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ImmunoGen Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that the Company will host a conference call at 8:00 a.m. ET on Friday, November 4, 2022 to discuss its third quarter 2022 operating results. Management will also provide a brief update on the business.

CONFERENCE CALL INFORMATIONTo access the live call by phone, please register here. A dial-in and unique PIN will be provided to join the call. The call may also be accessed through the Investors and Media section of the Company’s website, Following the call, a replay will be available at the same location.

A sum of 4963829 shares traded at recent session while its average daily volume was at 3.11M shares. ImmunoGen Inc. shares reached a high of $6.175 and dropped to a low of $6.00 until finishing in the latest session at $6.05.

The one-year IMGN stock forecast points to a potential upside of 46.03. 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 $11.21 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.

Barclays have made an estimate for ImmunoGen Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 09, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $9 to $6. The new note on the price target was released on March 21, 2022, representing the official price target for ImmunoGen Inc. stock. Previously, the target price had yet another raise to $18, while BMO Capital Markets analysts kept a Outperform rating on IMGN stock. On December 01, 2021, analysts increased their price target for IMGN shares from 7 to 12.

The Average True Range (ATR) for ImmunoGen Inc. is set at 0.32, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 14.86. The Price to Book ratio for the last quarter was 6.11, with the Price to Cash per share for the same quarter was set at 1.70.

IMGN Stock Performance Analysis:

ImmunoGen Inc. [IMGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.35. With this latest performance, IMGN shares gained by 35.04% in over the last four-week period, additionally plugging by 24.23% over the last 6 months – not to mention a rise of 3.24% 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 59.81, with the RSI for the last a single of trading hit 60.03, and the three-weeks RSI is set at 58.35 for ImmunoGen Inc. [IMGN]. The present Moving Average for the last 50 days of trading for this stock 5.54, while it was recorded at 6.08 for the last single week of trading, and 5.07 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 $1,199 million, or 92.20% 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 $110.11 million in IMGN stocks shares; and BLACKROCK INC., currently with $108.16 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 October and at the time of the October reporting period, where 92 institutional holders increased their position in ImmunoGen Inc. [NASDAQ:IMGN] by around 32,248,409 shares. Additionally, 107 investors decreased positions by around 26,684,171 shares, while 46 investors held positions by with 139,223,970 shares. The mentioned changes placed institutional holdings at 198,156,550 shares, according to the latest SEC report filing. IMGN stock had 30 new institutional investments in for a total of 8,106,114 shares, while 25 institutional investors sold positions of 3,831,933 shares during the same period.


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