ImmunoGen Inc. [IMGN] Is Currently -0.49 below its 200 Period Moving Avg: What Does This Mean?

ImmunoGen Inc. [NASDAQ: IMGN] stock went on a downward path that fall over -0.49% on Thursday, amounting to a one-week price increase of more than 0.74%. The company report on March 1, 2023 that ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

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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 on February 28, 2023, the Compensation Committee of the Company’s Board of Directors approved, in aggregate, grants of non-qualified stock option awards to purchase 49,450 shares of its common stock and restricted stock units (“RSUs”) covering 15,200 shares of its common stock to three new employees under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the “Inducement Plan”).

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.

Over the last 12 months, IMGN stock dropped by -17.74%. The one-year ImmunoGen Inc. stock forecast points to a potential upside of 66.91. The average equity rating for IMGN stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $988.18 million, with 254.41 million shares outstanding and 219.84 million shares in the current float. Compared to the average trading volume of 3.55M shares, IMGN stock reached a trading volume of 2953263 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $12.33 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 0.25, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 9.08. The Price to Book ratio for the last quarter was 6.69, with the Price to Cash per share for the same quarter was set at 1.14.

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 0.74. With this latest performance, IMGN shares dropped by -6.42% in over the last four-week period, additionally sinking by -20.47% over the last 6 months – not to mention a drop of -17.74% 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 47.19, with the RSI for the last a single of trading hit 48.74, and the three-weeks RSI is set at 46.24 for ImmunoGen Inc. [IMGN]. The present Moving Average for the last 50 days of trading for this stock 4.35, while it was recorded at 4.03 for the last single week of trading, and 4.93 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 -203.06 and a Gross Margin at +98.20. ImmunoGen Inc.’s Net Margin is presently recorded at -204.93.

Return on Equity for this stock declined to -92.61, with Return on Assets sitting at -50.97.

ImmunoGen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.50.

ImmunoGen Inc. [IMGN] Insider Position Details

There are presently around $833 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 21,853,958, which is approximately 0.517% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 18,016,002 shares of the stock with an approximate value of $73.5 million in IMGN stocks shares; and STATE STREET CORP, currently with $71.43 million in IMGN stock with ownership of nearly 19.961% of the company’s market capitalization.

Positions in ImmunoGen Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 95 institutional holders increased their position in ImmunoGen Inc. [NASDAQ:IMGN] by around 33,715,714 shares. Additionally, 115 investors decreased positions by around 28,605,180 shares, while 36 investors held positions by with 141,745,939 shares. The mentioned changes placed institutional holdings at 204,066,833 shares, according to the latest SEC report filing. IMGN stock had 26 new institutional investments in for a total of 9,449,876 shares, while 46 institutional investors sold positions of 11,585,044 shares during the same period.


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