Immunogen, Inc. (NASDAQ: IMGN) stock jumped 3.34% on Friday to $16.11 against a previous-day closing price of $15.59. With 7.42 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.63 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $16.42 whereas the lowest price it dropped to was $15.61. The 52-week range on IMGN shows that it touched its highest point at $20.69 and its lowest point at $3.61 during that stretch. It currently has a 1-year price target of $23.14. Beta for the stock currently stands at 0.81.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IMGN was up-trending over the past week, with a rise of 9.15%, but this was up by 10.34% over a month. The stock gained 210.40% in the past year, while it has gained 224.80% so far this year. A look at the trailing 12-month EPS for IMGN yields -0.30 with Next year EPS estimates of 0.36. For the next quarter, that number is 0.12. This implies an EPS growth rate of 107.28% for this year and 460.26% for next year.
Float and Shares Shorts:
At present, 266.26 million IMGN shares are outstanding with a float of 259.43 million shares on hand for trading. On Oct 30, 2023, short shares totaled 25.03 million, which was 9.40% higher than short shares on Sep 28, 2023. In addition to Mr. Mark Joseph Enyedy as the firm’s President, CEO & Director, Ms. Stacy A. Coen M.B.A. serves as its Senior VP & Chief Business Officer.
Institutional Ownership:
Through their ownership of 84.66% of IMGN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.30% of IMGN, in contrast to 42.33% held by mutual funds. Shares owned by individuals account for 1.41%. As the largest shareholder in IMGN with 9.61% of the stake, The Vanguard Group, Inc. holds 23,915,141 shares worth 23,915,141. A second-largest stockholder of IMGN, Redmile Group LLC, holds 17,503,417 shares, controlling over 7.03% of the firm’s shares. Janus Henderson Investors US LLC is the third largest shareholder in IMGN, holding 16,981,910 shares or 6.82% stake. With a 3.13% stake in IMGN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 7,781,214 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.58% of IMGN stock, is the second-largest Mutual Fund holder. It holds 6,420,565 shares valued at 95.41 million. iShares Russell 2000 ETF holds 2.23% of the stake in IMGN, owning 5,546,298 shares worth 82.42 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IMGN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IMGN analysts setting a high price target of $28.00 and a low target of $14.00, the average target price over the next 12 months is $23.14. Based on these targets, IMGN could surge 73.81% to reach the target high and fall by -13.1% to reach the target low. Reaching the average price target will result in a growth of 43.64% from current levels.
Summary of Insider Activity:
Insiders traded IMGN stock several times over the past three months with 14 Buys and 4 Sells. In these transactions, 202,177 shares were bought while 222,013 shares were sold. The number of buy transactions has increased to 45 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 3,738,624 while 3,562,635 shares were sold.
