Here's What Pushed ImmunoGen, Inc. Stock 16.5% Lower in July

Shares of ImmunoGen, Inc. (NASDAQ: IMGN), an oncology-focused biotech, dipped 16.5% lower in July according to data from S&P Global Market Intelligence. A fairly benign earnings report near the end of the month wasn't enough to offset some profit taking after June's exciting run-up.

In an industry famous for volatility, ImmunoGen has been bouncier than most in recent months. The company has no products to sell, and any hint of success -- or lack of success -- for the new drug candidates sends its stock roaring up or down.

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Source: Fool.com