Immunogen, Inc. (IMGN)

Immunogen, Inc. Stock (IMGN) dropped by 7.26% from $16.11 to $14.94 in the trading on Monday November 20, 2023. The reasons why IMGN stock down today include:

• Insider selling: Stacy Coen, the Senior Vice President & Chief Business Officer of Immunogen, sold 108,609 shares of the company on November 17, 2023. This sale has caught the attention of investors and analysts, causing IMGN stock price going down
• Stock rating from the analyst: Goldman Sachs initiates coverage of Immunogen with a neutral rating and $17 price target. While the firm sees potential for future growth, it believes the current opportunity is well reflected in the stock price.

ImmunoGen's shares fell 16% due to significant planned insider sales by the CEO and SVP, with transactions respectively on Thursday, August 03 and Friday, August 04.

https://twitter.com/MookTrader/status/1688558041665581056

ImmunoGen's stock fell 8.71% following the announcement of CMO Anna Berkenblit's departure, which overshadowed the growth in sales of Elahere mirvetuximab soravtansine-gynx, despite the significant increase in net sales for the drug in 2Q23.

https://www.biocentury.com/article/648764/july-31-quick-takes-apellis-dips-on-news-of-safety-signal-for-syfovre