During the last session, ImmunoGen Inc. (NASDAQ:IMGN)’s traded shares were 4.6 million, with the beta value of the company hitting 0.74. At the end of the trading day, the stock’s price was $13.67, reflecting an intraday loss of -2.22% or -$0.31. The 52-week high for the IMGN share is $14.91, that puts it down -9.07 from that peak though still a striking 77.32% gain since the share price plummeted to a 52-week low of $3.10. The company’s market capitalization is $3.37B, and the average intraday trading volume over the past 10 days was 5.47 million shares, and the average trade volume was 6.65 million shares over the past three months.
ImmunoGen Inc. (NASDAQ:IMGN) trade information
ImmunoGen Inc. (IMGN) registered a -2.22% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.22% in intraday trading to $13.67 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -1.65%, and it has moved by 231.80% in 30 days. Based on these gigs, the overall price performance for the year is 282.91%. The short interest in ImmunoGen Inc. (NASDAQ:IMGN) is 15.58 million shares and it means that shorts have 1.22 day(s) to cover.
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ImmunoGen Inc. (IMGN) estimates and forecasts
Statistics show that ImmunoGen Inc. has outperformed its competitors in share price, compared to the industry in which it operates. ImmunoGen Inc. (IMGN) shares have gone up 156.95% during the last six months, with a year-to-date growth rate more than the industry average at 37.50% against 13.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 37.50% this quarter and then jump 61.30% in the quarter after that. In the rating firms’ projections, revenue will increase 85.20% compared to the previous financial year.
Revenue for the current quarter is expected to be $44.43 million as predicted by 11 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $50.21 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $14.16 million and $12.48 million respectively. In this case, analysts expect current quarter sales to grow by 213.70% and then jump by 302.30% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 2.10%. While earnings are projected to return -30.10% in 2023.
ImmunoGen Inc. is due to release its next quarterly earnings between July 27 and July 31. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
ImmunoGen Inc. (NASDAQ:IMGN)’s Major holders
ImmunoGen Inc. insiders own 0.37% of total outstanding shares while institutional holders control 90.68%, with the float percentage being 91.01%. RA Capital Management, L.P. is the largest shareholder of the company, while 297 institutions own stock in it. As of Mar 30, 2023, the company held over 21.85 million shares (or 9.67% of all shares), a total value of $83.92 million in shares.
The next largest institutional holding, with 18.0 million shares, is of Blackrock Inc.’s that is approximately 7.96% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $69.11 million.
Also, the Mutual Funds coming in first place with the largest holdings of ImmunoGen Inc. (IMGN) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. Data provided on Feb 27, 2023 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 11.61 million shares. This amounts to just over 5.14 percent of the company’s overall shares, with a $45.06 million market value. The same data shows that the other fund manager holds slightly less at 6.62 million, or about 2.93% of the stock, which is worth about $32.83 million.