The share price of ImmunoGen Inc. (NASDAQ:IMGN) fell to $4.66 per share on Monday from $4.67. While ImmunoGen Inc. has underperformed by -0.21%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, IMGN fell by -15.58%, with highs and lows ranging from $6.63 to $3.10, whereas the simple moving average fell by -6.50% in the last 200 days.
On November 21, 2022, Truist started tracking ImmunoGen Inc. (NASDAQ: IMGN) recommending Buy. A report published by Barclays on September 09, 2022, Initiated its previous ‘Overweight’ rating for IMGN. RBC Capital Mkts also Downgraded IMGN shares as ‘Sector Perform’, setting a target price of $6 on the company’s shares in a report dated March 21, 2022. BMO Capital Markets Initiated an Outperform rating on February 11, 2022, and assigned a price target of $18. Jefferies December 01, 2021d its ‘Hold’ rating to ‘Buy’ for IMGN, as published in its report on December 01, 2021. H.C. Wainwright’s report from October 26, 2020 suggests a price prediction of $11 for IMGN shares, giving the stock a ‘Buy’ rating. Guggenheim also rated the stock as ‘Buy’.
Analysis of ImmunoGen Inc. (IMGN)
Further, the quarter-over-quarter increase in sales is 67.40%, showing a positive trend in the upcoming months.
To gain a thorough understanding of ImmunoGen Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -75.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and IMGN is recording an average volume of 3.71M. On a monthly basis, the volatility of the stock is set at 7.10%, whereas on a weekly basis, it is put at 6.01%, with a gain of 2.87% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.44, showing growth from the present price of $4.66, which can serve as yet another indication of whether IMGN is worth investing in or should be passed over.
How Do You Analyze ImmunoGen Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 93.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in IMGN shares?
The recent increase in stakes in IMGN appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc. made another decreased to its shares in IMGN during the first quarter, downing its stake by -2.74%. During the last quarter, the company dropped down -428,483 additional shares for a total stake of worth $75.48 million, bringing number of shares owned by the company to 15,217,418.
During the first quarter, SSgA Funds Management, Inc. subtracted a -3,604,681 position in IMGN. BlackRock Fund Advisors sold an additional -0.44 million shares in the last quarter, decreasing its holdings by -2.97%, now holding 14.51 million shares worth $71.99 million. At the end of the first quarter, Deerfield Management Co. LP decreased its IMGN holdings by -8.52% and now holds 13.74 million IMGN shares valued at $68.15 million with the lessened -1.28 million shares during the period. IMGN shares are owned by institutional investors to the tune of 93.10% at present.