IMGN - Why ImmunoGen Stock Is Crushing It Today
Shares of ImmunoGen (NASDAQ: IMGN) were soaring 14.8% higher as of 11:20 a.m. EST on Tuesday. The biotech provided its third-quarter update last Friday. While its financial results were nothing to get excited about, investors cheered its progress with a late-stage clinical study evaluating mirvetuximab soravtansine in treating platinum-resistant ovarian cancer patients whose tumors express high levels of folate receptor alpha. ImmunoGen stock rallied after its Q3 update, with the momentum continuing through today.
There can be a "follow the herd" mentality with investing in stocks. That can especially be the case for small-cap biotechs like ImmunoGen.
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