Immunogen, Inc. [NASDAQ: IMGN] slipped around -0.03 points on Tuesday, while shares priced at $29.39 at the close of the session, down -0.10%. The company report on January 3, 2024 at 4:30 PM that ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).
ImmunoGen, Inc., (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that the compensation committee of the Company’s Board of Directors (the “Compensation Committee”) approved, effective as of December 29, 2023, the grant of restricted stock units (“RSUs”) covering 167,159 shares of ImmunoGen’s common stock under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the “Inducement Plan”) to six new employees.
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.
Compared to the average trading volume of 7.76M shares, IMGN reached a trading volume of 3910413 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 $29.34 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 2.54. 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.
Guggenheim have made an estimate for Immunogen, Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 01, 2023.
The Average True Range (ATR) for Immunogen, Inc. is set at 0.27, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 28.55. The Price to Book ratio for the last quarter was 13.91, with the Price to Cash per share for the same quarter was set at 2.17.
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 -0.17. With this latest performance, IMGN shares dropped by -1.08% in over the last four-week period, additionally plugging by 64.93% over the last 6 months – not to mention a rise of 518.74% 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 62.83, with the RSI for the last a single of trading hit 46.81, and the three-weeks RSI is set at 68.79 for Immunogen, Inc. [IMGN]. The present Moving Average for the last 50 days of trading for this stock 27.09, while it was recorded at 29.48 for the last single week of trading, and 17.97 for the last 200 days.
Immunogen, Inc. [IMGN]: Deeper insight into the fundamentals
Immunogen, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.65 and a Current Ratio set at 5.70.
Earnings analysis for Immunogen, Inc. [IMGN]
With the latest financial reports released by the company, Immunogen, Inc. posted -0.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.3/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 23.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IMGN.
Insider trade positions for Immunogen, Inc. [IMGN]
The top three institutional holders of IMGN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IMGN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IMGN stock with ownership which is approximately 5.8325%.
