Calls Purchased on ImmunoGen (IMGN)
Shares of ImmunoGen Inc. (NASDAQ: IMGN) are higher on the session by 5.14%, currently trading at $9.61. The stock has been moving largely sideways for the past four months, finding support near $8.00 and resistance near $10.00.
Options traders are buying calls on the name today. Though action has been primarily in small lots, call volume is now running at 4.4x the daily average. Traders were buying the $10.00 and $15.00 strikes in January 2011 and the $12.50 strike in October.
ImmunoGen, Inc. is focused on the development of antibody-based anticancer therapeutics. It develops, targeted therapeutics for the treatment of cancer using cancer biology, monoclonal antibodies, highly-potent cytotoxic (cell-killing), agents, and the design of linkers that enable these agents to be stably attached to the antibodies while in the blood stream and released in their fully active form after delivery to a cancer cell.
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