ImmunoGen (NASDAQ:IMGN) is up 21.8% at 1:06 p.m. EST on no apparent news. Of course, it’s a biotech, so that’s often par for the course.
One possibility is that day traders are just doing their thing, following the momentum, which pushes the stock price higher. We’ll know in a few days if the share price returns to previous levels.
Image source: Getty Images.
It’s also possible investors are buying ahead of the Society of Gynecologic Oncology’s Annual Meeting of Women’s Cancer next month where ImmunoGen is scheduled to present additional phase 1 data from a subset of patients getting its cancer medication mirvetuximab soravtansine.
The clinical trial tests mirvetuximab soravtansine in relapsed epithelial ovarian cancer patients. In this cohort, the patients got a fresh biopsy to measure expression levels of FR alpha, which mirvetuximab soravtansine targets. The hope is that expression levels will continue to align with patient outcomes — that is, patients with more FR alpha respond better — and that the fresh biopsy will show the same results as the archival biopsy.
Best Biotech Stocks For 2018: CST Brands, Inc.(CST)
- [By Monica Gerson]
CST Brands Inc (NYSE: CST) is projected to report its quarterly earnings at $0.22 per share on revenue of $2.30 billion. CST Brands shares declined 1.20 percent to close at $36.21 on Thursday.
- [By Monica Gerson]
CST Brands Inc (NYSE: CST) is projected to report its quarterly earnings at $0.22 per share on revenue of $2.30 billion.
American Axle & Manufact. Holdings, Inc. (NYSE: AXL) is expected to report its quarterly earnings at $0.71 per share on revenue of $998.76 million.
Best Biotech Stocks For 2018: Royal Dutch Shell PLC(RDS.A)
- [By WWW.THESTREET.COM]
A number of oil and gas companies have backed the accord as well, including Chevron (CVX) , Royal Dutch Shell (RDS.A) and BP (BP) . Exxon (XOM) in March sent a letter to the White House urging it to stay in the Paris agreement, and CEO Darren Woods penned a personal letter to the president addressing the matter, the Financial Times reported last week.
- [By WWW.THESTREET.COM]
Global oil prices nudged higher Monday even amid reports that Royal Dutch Shell (RDS.A) is re-starting a key Houston refinery that was shuttered by Hurricane Harvey three weeks ago.
- [By Money Morning News Team]
A $2 trillion valuation makes the company worth more than Chevron Corp. (NYSE:CVX), BP Plc. (NYSE ADR:BP), Exxon Mobil Corp. (NYSE: XOM), and Royal Dutch Shell Plc. (NYSE: RDS.A) – combined.
Best Biotech Stocks For 2018: CVR Partners LP(UAN)
- [By Cameron Swinehart]
Going forward I will be looking to add investments on my watchlist and trim other positions. It will be interesting to see how an overweight commodity portfolio will perform relative to the rest of the market.
Cost Basis# SharesCurrent Price% of PortfolioCurrent ValueReturnMetal/Miners Sprott Physical Gold Trust (PHYS)$12.4985$11.043.75%$938.40-13.13%Sprott Physical Silver Trust (PSLV)$7.95125$8.744.37%$1,092.509.04%FreePort-McMoran (FCX)$31.6731$33.874.20%$1,049.976.50%Ishares MSCI Global Gold Miners ETF (RING)$13.0695$10.644.04%$1,010.80-22.74%Energy Statoil ASA(STO)$21.7940$22.683.63%$907.203.92%Vanguard Natural Resources LLC (VNR)$27.5636$27.874.01%$1,003.321.11%ConocoPhillips (COP)$63.6822.43$71.006.37%$1,592.5310.31%Agriculture CVR Partner LP (UAN)$26.3630.9$18.932.34%$584.94-39.25%Adecoagro$6.78125$7.443.72%$930.008.87%Archer-Daniels Midland (ADM)$34.8030$37.244.47%$1,117.206.55%Mixed Commodity Powershares DB Commodity Index (DBC)$26.3540$25.954.15%$1,038.00-1.54%Sprott Resource Corp$3.34400$2.714.34%$1,084.00-23.25% Total % of portfolio49.40% Cost Basis12,666.00 Current Value12,348.86 Return-2.50% Source: Investing For The Future Surge In Commodity Prices
Disclosure: I am long ADM, FCX, UAN, AGRO, RING, VNR, SCPZF.PK, COP, DBC, PHYS, PSLV. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. (More…)
- [By Robert Rapier]
Enter CVR Partners LP (NYSE: UAN), the only company in the US to produce fertilizer from petroleum coke (petcoke). Petcoke is a byproduct of petroleum refining, and prices are usually set off coal prices, since these two products compete in the same niche. Thus the same dynamics that currently threaten the distributions of Rentech Nitrogen Partners and Terra Nitrogen Company play in CVR Partners’ favor.
- [By Lisa Levin]
In trading on Tuesday, basic materials shares declined by 1.82 percent. Meanwhile, top losers in the sector included CVR Partners LP (NYSE: UAN), down 10 percent, and Resolute Forest Products Inc (NYSE: RFP), down 9 percent.