IMGN beta coefficient is something like 1.75 which means it's much more volatile than other stocks.
For the recent price swings, it has gone down in an up market and down in a bad market so it's no wonder all the price watchers are jumping up and down like they've got hot feet.
I too have a growing concern that if one or more institutions throws in the towel on their multi million dollar IMGN investments that sub $10 will come VERY quickly. I have no dry powder to take advantage of such a scenario but I also prefer not to see IMGN down in the single digits again.
This is a small time stock trying very hard to break into the major league. Unfortunately many investors still think the IMGN officers exist soley to do the bidding of small investors.
My opinion is if you hold more than 10% of the total float, you might be able to get an ear of an officer or a member of the board.
Demanding that officers take action to directly move the stock price is inherently unethical and dangerous for everyone.
Can/should investors demand IMGN seek partnerships or suitors for a takeover? I think IMGN actively seeking either would detract from getting the best price or terms. Due dilligence can take years while lawyers hash out the details and it's remarkably immature to demand it, not knowing what is going on the minds of the management.
A few things that keeps me positive in this stock is the growing body of evidence that the technology can get past the blood brain barrier which means if your cancer has metastasized to the brain, there is still a chance that continued treatment can lead to eventually being declared NED (no evidence of disease).
As long as you can stay NED for some number of years you would then be declared in remission and several years after that you will probably be considered cured.
Not too long ago a cancer patient's prospects dwindled rapidly once the cancer has metastasized (stage IV).
I remain hopeful for the share price.
a concerted effort by shorts can change retail investor sentiment on such a thinly traded stock. people make up stuff in their minds that some bad news is coming when there's a drop in price
the argument from the crotchety old investors is that all these drugs are carrots dangled before us with a payoff 10 to 15 years from today. Kadcyla was supposed to be the first of our success stories, unfortunately the next closest one is still a ways off.
My wife's cousin is a Dr and he once said to me with biotech investing, you buy a handful of small stocks and if you're lucky, one of them will make money. Will it be IMGN for me? it remains to be seen. I've made money here, but nowhere near what I believe we are capable of in the near future. ie 5ish years.
I don't understand why that guy can't just move on to other investments. It almost feels like he lives to complain about IMGN management. He must be the same crotchety old man that yells at the kids to get off his lawn.
I think the downswings helps to shake out the fickle holders. Hopefully we have a much stronger foundation, to launch our next trip to 20 and beyond.
all the smart IMGN investors (short and long) are ready for the next adventure.
The institutions keep adding so the float should get smaller every day. The employees are selling regularly whenever the price gets above 16 or so. This keeps supply plentiful since retail customers still don't know who IMGN is and it also keeps their stock options low so they can reap larger rewards later. despite all this, IMGN will still go up. Just not as impressively as SGEN has moved, but I still think that's a bubble waiting to burst.
my suggestion is to forget about the 300 shares and revisit next year.
the only problem with this logic is if 1 institution comes to the same conclusion as the recent analyst downgrade and starts lightening their portfolio, you may get another institution decide to take a look and come to a similiar conclusion.
I doubt it will be a fire exit scenario but one thing could lead to another..
IMGN seems to be defying conventional behavior. We used to go down in an up market and go down worse in a bad market. It seems like we are reversing that behavior (up in a down market and up in an up market). Need a few more trading sessions to see if this is a new trend.
Hopefully this price movement is not anticipation of something new discussed at Cowen (today) or an upcoming secondary. I would like to think this new baselining is the groundswell of increased awareness of IMGN and increased confidence in the company.
Remember that home prices in New England are insanely high. Charlie needs to sell 1000 shares of stock just to buy groceries every week
I was expecting a drop from these levels but it seems we're holding nicely. if we're baselining, this would be a great place from which to launch our assault on $25 and higher.
hmm, so this would indicate to me that there are virtually no free shares available to trade. That's probably why the price is rising so dramatically. I guess I'll hold on to my last few shares of SGEN.