In the last trading session, 4.97 million shares of the ImmunoGen Inc. (NASDAQ:IMGN) were traded, and its beta was 1.16. Most recently the company’s share price was $4.10, and it changed around $0.39 or 10.51% from the last close, which brings the market valuation of the company to $806.76M. IMGN currently trades at a discount to its 52-week high of $7.77, offering almost -89.51% off that amount. The share price’s 52-week low was $3.10, which indicates that the current value has risen by an impressive 24.39% since then. We note from ImmunoGen Inc.’s average daily trading volume that its 10-day average is 3.71 million shares, with the 3-month average coming to 4.23 million.
ImmunoGen Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 1.90. If we narrow it down even further, the data shows that 0 out of 10 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 3 recommended IMGN as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. ImmunoGen Inc. is expected to report earnings per share of -$0.22 for the current quarter.
ImmunoGen Inc. (NASDAQ:IMGN) trade information
Instantly IMGN has showed a green trend with a performance of 10.51% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.24 on Tuesday, 06/21/22 increased the stock’s daily price by 3.3%. The company’s shares are currently down -44.74% year-to-date, but still up 30.16% over the last five days. On the other hand, ImmunoGen Inc. (NASDAQ:IMGN) is 16.15% up in the 30-day period. We can see from the shorts that 16.94 million shares have been sold at a short interest cover period of 5.63 day(s).
The consensus price target as assigned by Wall Street analysts is $11.50, which translates to bulls needing to increase their stock price by 64.35% from its current value. Analyst projections state that IMGN is forecast to be at a low of $4.00 and a high of $20.00. In order for the stock price to hit the forecast high, the stock would need to plunge -387.8% from its current level, while the stock would need to crash 2.44% from its current level to reach the projected low.
ImmunoGen Inc. (IMGN) estimates and forecasts
ImmunoGen Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -40.15 percent over the past six months and at a -26.47% annual growth rate that is well below the industry average of 11.30%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -46.70% in revenue this quarter, and will report a decrease of -38.90% in the next quarter. The year-over-year growth rate is expected to be 22.70%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $16.18 million in revenue for the current quarter. 9 analysts expect ImmunoGen Inc. to make $12.87 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $16.95 million and $9.21 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -4.50%. Forecasts for the next quarter put sales growth at 39.70%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 5.70%.
ImmunoGen Inc.’s next quarterly earnings report is expected to be released around February 10 and February 14.
ImmunoGen Inc. (NASDAQ:IMGN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.43% of ImmunoGen Inc. shares, and 88.68% of them are in the hands of institutional investors. The stock currently has a share float of 89.07%. ImmunoGen Inc. stock is held by 306 institutions, with RA Capital Management, L.P. being the largest institutional investor. By Dec 30, 2021, it held 9.18% of the shares, which is about 20.24 million shares worth $150.19 million.
Blackrock Inc., with 7.45% or 16.43 million shares worth $78.22 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF were the top two Mutual Funds as of Dec 30, 2021. The former held 6.08 million shares worth $45.09 million, making up 2.76% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF held roughly 4.83 million shares worth around $27.31 million, which represents about 2.19% of the total shares outstanding.