IMGN actually as been nominated for a few awards. Best category, most promising drug candidate IMGN 289! Best Scientific Innovation CytomX Probodies Best Scientific leadership team - IMGN and individuals nominated Lamber and Chari
Genentech, ImmunoGen & Agensys reveal updates on leading clinical stage ADCs and Improvements in up and downstream ADC processing and formulation will be revealed by Lonza, ImmunoGen & Baxter.
We may get some good news out of the World ADC Conference to be held on Oct 26-29 in San Diego. Speakers will include IMGN's Lambert, Herbst, Sun and Morris. See IV board for more info.
Clearly something is happening that's not yet known to investors. Let's play speculation. Is it:
1)Dan is retiring/being replaced and Howard Pien is taking over to turn around and sell IMGN? (my favorite)
2)Positive clinical development to be announced soon, internal pipeline, Kadcyla, partnership
3)Negative clinical development to be announced soon...
Secondary offering (my least favorite other than negative clinical)
4)Large owner giving up, taking the tax loss and moving on to a stock that might go UP!
5)Other??? add your speculation.
From a strictly short term perspective, it has been a giant steaming pile of poo.
From a long term perspective, I remain wildly optimistic that the stock price will get over $20 and then over my children's lifetime well over $100.
Who the heck has the patience to wait this long? I don't know, but I'm keeping some shares here just in case.
Not that IMGN longs don't have bigger problems to worry about...I was looking through Drugsurfer's posting history and noticed an old post from H&P. It's been 2 years since he posted.
Are you morons still here?
Hilarious, but I shouldn't laugh at mongloids. My mom and dad taught me better than that.
Definite manipulation. Maybe its Cramer and theStreet. Note that they published articles the last 3 days.
Looks like a secondary is coming and then they follow with cheap exec option grants to take advantage of the low price. If they pull that again, I predict a shareholder lawsuit.
Today IMGN went up $1.16. Bet you $10,000. that tomorrow when it goes back down, Oppy will post several "Debbie Downer Messages" on Investor Village. He is so consistent and must have high bold pressure
Oversold, heavily shorted, plus high volume capitulation = reversal.
Capitulation: After capitulation selling, it is thought that there are great bargains to be had. The belief is that everyone who wants to get out of a stock, for any reason (including forced selling due to margin calls), has sold. The price should then, theoretically, reverse or bounce off the lows. In other words, some investors believe that true capitulation is the sign of a bottom.
short interest as of 9/30 was approximately 9 million shares. With the drop in prices yesterday, every short could have covered with a nice profit.
This could explain who bought all the shares that were being dumped, it could also point to potentially strong growth with reduced short interest as we move forward.
My guess is the market makers picked up most of the shares that sold off and they are walking the price back up to cover their costs. We are still under $10 so today's 13% move is really not an issue. As a long time long, I'm glad that the price hasn't continued falling which would mean continued selling.
It feels like the large seller is either done dumping their shares or waiting for the price to come back up to start selling again.
Insiders never buy, only sell their free shares. That's just one reason (of many) that many LT shareholders are critical the current leadership team and BOD.
I was looking for a chunk of insider buys at that dip, and disappointed to find none. Insiders don't appear to be too bullish on IMGN.
Glad I was able to add low though.
is that this never should have been trading so low to begin with...I thought for sure that I would find a post from The Klown or 'dafatpig, that would have been the only thing that made any sense this morning.
Move along, nothing to see here. Stock goes from $18 to under $8, Friday was one of the highest volume days ever, first down, then a reversal, now it's up over 14% again on high volume. Yep, no hidden info, nothing happening.
Stunning lack of information provided to shareholders, but up beats down. I have no idea if there's an offering coming, a buy out, some significant positive news (or negative). Maybe the BOD is listening and will fire DJ and replace with Pien?
Looking for a bounce to $10.50 - 11 short term and $15-17 over the next year.
Sentiment: Strong Buy