Quick Win by the Algorithm: IMGN Inducing Optimism

Quick Win By The Algorithm

On February 26, 2017, the I Know First algorithm had predicted a bullish forecast for ImmunoGen, Inc. (IMGN). IMGN had a signal of 125.70 and a predictability of 0.16. In accordance with the algorithm, the company reported gains of 26.94% experiencing a quick win by the algorithm.

quick winImmunoGen, Inc. (IMGN), a biotechnology company, develops targeted anticancer therapeutics. The company develops its products using its antibody-drug conjugate (ADC) technology.

quick win

On February 17th, management at IMGN held a conference call. The primary reason for the call was to outline the development of its leading asset, Mirvetuximab Soravtansine (MS).  The drug is in phase III for the treatment of platinum-resistant ovarian cancer.

As mentioned in a previous I Know First article, the stock is continuing its positive trend due to investors’ optimism about the drug. IMGN will present data of the drug at the Society of Gynecologic Oncology’s (SGO) Annual Meeting of Women’s Cancer. The meeting will take place between March 12-15. Contrast to other medical meetings of the same nature, the SGO do not release any outline of the data prior to the start of the conference.

Furthermore, IMGN has a couple of partnerships in place with Pharmaceutical giants Novartis and Sanofi.

With an array of development assets in place, this may help to explain the stock’s yield of 26.94% in the given time period.

This bullish forecast on NAVB was sent to current I Know First subscribers on February 26, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts