Investing in ImmunoGen Inc. (IMGN) Is Getting More Attractive

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In the meantime, Truist initiated its ImmunoGen Inc. [IMGN] rating to a Buy in a research note published on Tuesday, November 21, 2022; the price target was $10. PT values the company’s stock at a premium of 53.3 to its Tuesday closing price. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in early September with a ‘”an Overweight”‘ rating. RBC Capital Mkts also remained covering IMGN and has decreased its forecast on March 21, 2022 with a “Sector perform” recommendation from previously “an Outperform” rating. BMO Capital Markets started covering the stock on February 11, 2022. It rated IMGN as “an Outperform”.


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Price Performance Review of IMGN

On Tuesday, ImmunoGen Inc. [NASDAQ:IMGN] saw its stock jump 0.21% to $4.67. On the same session, the stock had its day’s lowest price of $4.50, but rose to a high of $4.735. Over the last five days, the stock has gained 3.78%. ImmunoGen Inc. shares have fallen nearly -5.85% since the year began. Nevertheless, the stocks have fallen -11.05% over the past one year. While a 52-week high of $6.63 was reached on 01/03/23, a 52-week low of $3.10 was recorded on 01/09/23. SMA at 50 days reached $4.95, while 200 days put it at $4.97. A total of 1.83 million shares were traded, compared to the trading of 3.07 million shares in the previous session.

Levels Of Support And Resistance For IMGN Stock

The 24-hour chart illustrates a support level at 4.53, which if violated will result in even more drops to 4.40. On the upside, there is a resistance level at 4.77. A further resistance level may holdings at 4.87. The Relative Strength Index (RSI) on the 14-day chart is 48.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.71%. Stochastics %K at 60.26% indicates the stock is a holding.

How much short interest is there in ImmunoGen Inc.?

A steep rise in short interest was recorded in ImmunoGen Inc. stocks on Oct 13, 2022, growing by 2.52 million shares to a total of 14.66 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 12.14 million shares. There was a rise of 17.19%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.67% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.25.

ImmunoGen Inc. [IMGN] – Who Are The Largest Shareholders?

In filings from RA Capital Management LP, it is revealed that the company now owns 21,741,458 shares, or roughly 9.85% of the outstanding IMGN shares. Additionally, The Vanguard Group, Inc. decreased -2.74% of its stake after which the total value it holdings stand at $75,478,393, while SSgA Funds Management, Inc. reduced -19.81% of its stake to hold $72.39 million in the firm. Over the last quarter, BlackRock Fund Advisors sold -444,330 shares of ImmunoGen Inc., while Deerfield Management Co. LP sold -1,280,285 shares. At present, Adage Capital Management LP is holding 11,119,000 shares valued at $55.15 million. Wellington Management Co. LLP owned 10,007,505 shares of the company at the time of its most recent 13F filing, worth $49.64 million.

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