ImmunoGen (IMGN) : Traders are getting increasingly bearish on ImmunoGen (IMGN), as can be seen in the addition of short positions from 14,844,681 on Jul 29, 2016, to 15,063,587 on August 15, 2016. The net change in shorts is 218,906 shares, an increase of 1.5%. 12 days remain before the expiry. The 17.4% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 1,262,279. The short interest information was released on Wednesday Aug 24th after the market close.
ImmunoGen (NASDAQ:IMGN): The stock opened at $3.12 on Wednesday but the bulls could not build on the opening and the stock topped out at $3.19 for the day. The stock traded down to $2.91 during the day, due to lack of any buying support eventually closed down at $2.97 with a loss of -5.41% for the day. The stock had closed at $3.14 on the previous day. The total traded volume was 1,754,175 shares.
In a related news, The Securities and Exchange Commission has divulged that Lambert John, officer (Executive Vice President) of Immunogen Inc, had unloaded 3,889 shares at an average price of $8.22 in a transaction dated on February 1, 2016. The total value of the transaction was worth $31,968.
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.