ImmunoGen, Inc. (IMGN) Stock: Here’s Why It’s Down

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ImmunoGen, Inc. (IMGN) is trending down in the market today. The company, focused on the biotech space, is currently priced at $2.60 after falling -6.14% so far today. In terms of biotech stocks, there are quite a few factors that have the potential to generate declines in the market. One of the most common is news. Here are the most recent headlines relating to IMGN:

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Oct-25-19 10:31AM ImmunoGen (IMGN) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release
Oct-18-19 04:30PM ImmunoGen Announces Conference Call to Discuss Its Third Quarter 2019 Operating Results
Sep-30-19 09:49AM Did ImmunoGen, Inc. (NASDAQ:IMGN) Insiders Buy Up More Shares?
Sep-29-19 06:01AM ImmunoGen Presents Initial Data from Phase 1b FORWARD II Triplet Cohort Evaluating Mirvetuximab Soravtansine in Combination with Carboplatin and Avastin® at ESMO
02:31AM ImmunoGen Presents Full Data from Phase 3 FORWARD I Study of Mirvetuximab Soravtansine in Ovarian Cancer at ESMO

However, any time investors are making a decision to invest, investors should look at far more than just news, especially in the generally speculative biotech industry. Here’s what’s going on with ImmunoGen, Inc..

How IMGN Has Been Trending

Although a move down on a single session, like the move that we’re seeing from ImmunoGen, Inc. may lead to fear in some investors, that alone shouldn’t be the reason for a decision to, or not to, invest in a stock. It is always important to look at trends further out than a single trading session. As it relates to IMGN, below are the returns on investment that investors have seen:

  • Past 5 Trading Sessions – In the past seven days, IMGN has generated a price change in the amount of -6.81%.
  • Monthly – The return on investment from ImmunoGen, Inc. in the last month has been 7.44%.
  • Past 3 Months – Over the past quarter, the company has produced a return that comes to 15.56%
  • Bi-Annually – Over the past 6 months, investors have seen a change that works out to 8.33% from the company.
  • YTD – Since the the last trading session of last year IMGN has produced a return of -45.83%.
  • Full Year – Lastly, over the past year, we’ve seen performance that comes to -55.86% out of IMGN. Throughout this period of time, the stock has sold at a high of -59.85% and a low of 47.73%.

Ratios Worth Watching

Digging into a few ratios having to do with a stock can give traders a view of just how dangerous and/or potentially profitable a an investment option might be. Below are a few of the most important ratios to think about when digging into IMGN.

Short Ratio – The short ratio is a measure of short interest. As the ratio heads up, it means that more investors are expecting that the price of the stock is going to go down. Throughout the sector, biotech stocks can have a higher short ratio. However, we also see a lot of short squeezes in the industry. Nonetheless, as it relates to ImmunoGen, Inc., it’s short ratio comes to 4.27.

Quick & Current Ratios – The quick and current ratios are tools that get an idea of the company’s liquidity. Basically, they measure whether or not a company can pay its debts when they come due with only quick assets or current assets. In the biotechnology industry, several companies rely heavily on the continuation of support from investors, the current and quick ratios can be damning. Nonetheless, quite a few better companies in the biotech industry do have good current and quick ratios. As it relates to IMGN, the quick and current ratios add up to 0 and 3.50 respectively.  

Book To Share Value – The book to share value compares the the share price to the book value of assets owned by the company. In this case, the book to share value ratio works out to -0.46.

Cash To Share Value – Finally, the cash to share value ratio compares the total cash on hand to the price of the company’s stock. Many early stage biotech companies struggle to keep cash on hand. So, if you’re interested in a biotech stock, this is a very important ratio to think about. When it comes to IMGN, the cash to share value ratio is 1.60.

How Analysts Feel About ImmunoGen, Inc.

While it’s not a good idea to blindly follow the opinions of analysts, it is a smart idea to consider their opinions when validating your own thoughts before making an investment decision in the biotech space. Here are the most recent moves that we’ve seen from analysts as it relates to IMGN.

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Aug-13-19 Reiterated H.C. Wainwright Buy $4 → $5
May-15-19 Downgrade Guggenheim Buy → Neutral
May-06-19 Upgrade H.C. Wainwright Neutral → Buy $7
May-06-19 Upgrade Cowen Market Perform → Outperform
Mar-19-19 Downgrade JP Morgan Neutral → Underweight

What Are Big Money Players Doing With ImmunoGen, Inc.

Humans that are into investing seem to be infatuated with the term “Smart money follows big money.” It makes sense. Big money became big money by making smart decisions in the market. So, by following the moves of big money institutions and insiders, we can get a glimpse of what market pros think about a stock. When it comes to big money interest in IMGN, here’s what we’re seeing:

Institutions own 67.30% of the company. Institutional interest has moved by -1.52% over the past three months. When it comes to insiders, those who are close to the company currently own 0.60% percent of IMGN shares. Institutions have seen ownership changes of an accumulative 0.00% over the last three months.

A Look At Share Counts

Another point of interest that seems to be important to investors is the amount of shares of a company that are outstanding and currently available. At the moment, there are 149.89M shares of ImmunoGen, Inc. outstanding. Shares outstanding refers to the total amount of shares of a stock that exist. As far as the float goes, or the amount of shares that are actually available on the retail market, IMGN has a float of 147.86M.

It’s also important to dig into the short float. Think about it, when a high percentage of the float available for trading is sold short, the overall feeling among traders is that the company is going to fall. In regard to IMGN, the percentage of the float that is shorted is 4.83%. In general, concerning short percent of the float is considered to be anything over 40%. In my research, I have found that anything over 26% is probably going to be a a play that could prove to be very risky.

Financial Performance

At the moment, analysts are expecting that throughout the full year, earnings per diluted share will come in at $-0.56. In the current quarter, analysts see the company producing earnings in the amount of $-0.18. Over the last 5 years, IMGN has generated revenue in the amount of $-2.30% with earnings coming in at -7.60%. On a quarter over quarter basis, earnings have seen movement of 5.30% and revenue has seen movement of 66.70%.

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