I don't see much new buying interest/volume, only seems to be ST trading and selling/shorting. Shorts are probing to find support, maybe just below $15.4. I'm starting to lose interest in IMGN, money is being treated better in my other biotech holdings. SGEN=3x IMGN is terrible relative performance! One would think the large institutions that own millions of shares are also frustrated. I see Orbimed sold out in Dec. Maybe they also noticed the only people getting rich are the IMGN execs and traders.
The way it has been trading and reacting to news off late suggests that it's a traders stock..NOT for investors ! I have seen many biotechs grow really well ver the past 1 year..but IMGN with such great technology and pipeline has fallen prey to day traders !