as with any equity investment, a short position adds efficiency to the market, however I would argue that IMGN has more than it's fair share of shorts due to the pricing behavior of the past few years.
Add to this the fact that the available float gets smaller EVERYDAY and it's a combination that makes a short position a dangerous bet.
We are coming into new territory for IMGN becuase the confluence of upcoming events from ASCO and earnings release will result in a perfect storm for which you are already seeing the ground swell. This upward price trend can not only continue but accelerate under the right circumstances.
Agreed, being short seems risky at this point. Although we're at a long term high, we are definitely not overbought. The RSI is only in the mid 60s. We have room to run. I say 1.2 million shares for a guess at the closing volume, with a price of 18.18 to 18.30. Short term price target of 19.47 and during the summer season we see 20s.