Finance

How Insiders and Institutions are Trading ImmunoGen, Inc. (IMGN)

Recent insider trends for ImmunoGen, Inc. (NASDAQ:IMGN) have caught the attention of investors. Analysts study insider data to get a sense of sense of what key shareholders think about the outlook for a particular stock. In the case of IMGN, the data has some interesting implications for where the stock might be headed.

Institutions own 74.33% of ImmunoGen, Inc. (IMGN)’s shares. The total value of these holdings, in millions, is $453. Among active positions in the latest quarter, 76 holders increased their positions by a total of 17.45 million shares, 53 holders decreased the positions by a total of 7.31 million shares, and 38 holders held their positions. This works out to a net increase in ownership of 10.14 million shares, and suggests that institutions are feeling bullish about the stock.

Among new and sold out positions, 35 holders initiated new positions by a total of 3.92 million shares and 10 holders exited their positions by a total of 579021 shares. This nets out to an increase of 3.34 million shares and is a bullish sign for IMGN.

In the last three months, insiders executed a total of 3 trades. 3 were sells. Insider ownership decreased by a total of 38550 shares, which suggests that IMGN’s key executives are feeling less optimistic about the outlook for the stock. The data from the past twelve months tells a different story: insiders executed 14 buys and 3 sells, and ownership increased by a net of 1.43 million shares.



Comparing the number of shares sold short over time is a method analysts often use to get a reading on investor sentiment. ImmunoGen, Inc. (NASDAQ:IMGN)’s short interest is 12.82 million shares, or % of the float. This represents an increase of 3% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.

In light of the insider ownership and trading data it makes sense to consider technicals to see if they come to a similar conclusion about the outlook for IMGN. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that IMGN is a sell, which implies that IMGN is expected to underperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bearish. Technical indicators (also) suggest that ImmunoGen, Inc. (NASDAQ:IMGN) is overvalued.

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