ImmunoGen Inc. [IMGN] stock Initiated by Truist analyst, price target now $10

ImmunoGen Inc. [NASDAQ: IMGN] traded at a high on 12/14/22, posting a 0.98 gain after which it closed the day’ session at $5.17. The company report on December 10, 2022 that ImmunoGen Presents Findings from Expansion Cohorts in Phase 1b/2 Study of Pivekimab Sunirine with Vidaza® and Venclexta® in Acute Myeloid Leukemia at ASH.

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Recommended Phase 2 Dose Well-Tolerated; Determination of Optimal Venclexta Duration Ongoing in Separate Cohorts.

The results of the trading session contributed to over 5223219 shares changing hands. Over the past one week, the price volatility of ImmunoGen Inc. stands at 4.12% while the volatility over the past one month is 5.57%.

The market cap for IMGN stock reached $1.15 billion, with 253.51 million shares outstanding and 219.84 million shares in the current float. Compared to the average trading volume of 3.60M shares, IMGN reached a trading volume of 5223219 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $13.00 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.

Truist have made an estimate for ImmunoGen Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 21, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on September 09, 2022, representing the official price target for ImmunoGen Inc. stock. Previously, the target price had yet another drop from $9 to $6, while RBC Capital Mkts kept a Sector Perform rating on IMGN stock.

The Average True Range (ATR) for ImmunoGen Inc. is set at 0.30, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 12.05. The Price to Book ratio for the last quarter was 7.39, with the Price to Cash per share for the same quarter was set at 1.39.

How has IMGN stock performed recently?

ImmunoGen Inc. [IMGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.77. With this latest performance, IMGN shares dropped by -10.24% in over the last four-week period, additionally plugging by 53.41% over the last 6 months – not to mention a drop of -17.15% 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 45.66, with the RSI for the last a single of trading hit 45.69, and the three-weeks RSI is set at 46.36 for ImmunoGen Inc. [IMGN]. The present Moving Average for the last 50 days of trading for this stock 5.57, while it was recorded at 5.14 for the last single week of trading, and 5.02 for the last 200 days.

ImmunoGen Inc. [IMGN]: Deeper insight into the 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 3.20 and a Current Ratio set at 3.20.

Insider trade positions for ImmunoGen Inc. [IMGN]

There are presently around $1,028 million, or 93.10% 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; BLACKROCK INC., holding 17,445,026 shares of the stock with an approximate value of $90.19 million in IMGN stocks shares; and VANGUARD GROUP INC, currently with $80.78 million in IMGN stock with ownership of nearly -2.704% of the company’s market capitalization.

Positions in ImmunoGen Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 105 institutional holders increased their position in ImmunoGen Inc. [NASDAQ:IMGN] by around 23,485,458 shares. Additionally, 95 investors decreased positions by around 20,895,171 shares, while 46 investors held positions by with 154,534,542 shares. The mentioned changes placed institutional holdings at 198,915,171 shares, according to the latest SEC report filing. IMGN stock had 29 new institutional investments in for a total of 10,175,298 shares, while 23 institutional investors sold positions of 1,801,341 shares during the same period.

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