ImmunoGen (IMGN) Shares are Down -4.13%

ImmunoGen (IMGN) has risen sharply, recording gains of 5.96% in the past 4 weeks. However, the stock has corrected -4.13% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 5.56% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

ImmunoGen, Inc. has dropped 45.78% during the last 3-month period . Year-to-Date the stock performance stands at -77.75%. The stock has recorded a 20-day Moving Average of 1.82% and the 50-Day Moving Average is 4.71%.


ImmunoGen (NASDAQ:IMGN): The stock opened at $3.04 on Friday but the bulls could not build on the opening and the stock topped out at $3.08 for the day. The stock traded down to $2.98 during the day, due to lack of any buying support eventually closed down at $3.02 with a loss of -1.31% for the day. The stock had closed at $3.06 on the previous day. The total traded volume was 787,440 shares.

Also, Equity Analysts at the Jefferies maintains the rating on ImmunoGen (NASDAQ:IMGN). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency lowers the price target from $13 per share to $6 per share. The rating by the firm was issued on August 5, 2016.

ImmunoGen, Inc. (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Companys clinical and preclinical product candidates are antibody-drug conjugates (ADCs), which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells. The Company has three clinical-stage anticancer compounds: mirvetuximab soravtansine (IMGN853), coltuximab ravtansine, IMGN529, and IMGN779. The Companys partners are Amgen Inc., Bayer HealthCare (a subgroup of Bayer AG), Biotest AG, Eli Lilly and Company (Lilly), Novartis Institutes for BioMedical Research, Inc. (Novartis), the Roche Group, Sanofi and Takeda. The Companys collaborative partner compounds include Kadcyla, Indatuximab ravtansine, Isatuximab, Anetumumab ravtansine, AMG 595, AMG 172, SAR566658, SAR408701, LOP628 and PCA062. All of the Companys compounds are ADCs with the exception of isatuximab, which is a therapeutic antibody.

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