IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report) CFO Misbah Tahir sold 1,487 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $11.54, for a total value of $17,159.98. Following the transaction, the chief financial officer now owns 122,694 shares of the company's stock, valued at $1,415,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
IGM Biosciences Trading Up 11.6 %
Shares of IGM Biosciences stock opened at $17.68 on Wednesday. IGM Biosciences, Inc. has a 52 week low of $3.81 and a 52 week high of $22.50. The company's 50-day moving average price is $10.45 and its two-hundred day moving average price is $9.39. The stock has a market cap of $1.04 billion, a PE ratio of -4.10 and a beta of 0.19.
IGM Biosciences (NASDAQ:IGMS - Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($0.79) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.97). IGM Biosciences had a negative return on equity of 119.02% and a negative net margin of 7,571.35%. The business had revenue of $1.25 million during the quarter, compared to the consensus estimate of $51.75 million. On average, equities analysts predict that IGM Biosciences, Inc. will post -3.13 EPS for the current fiscal year.
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A number of brokerages have issued reports on IGMS. Truist Financial reduced their price target on IGM Biosciences from $25.00 to $24.00 and set a "buy" rating for the company in a research report on Friday, August 23rd. Wedbush reaffirmed an "outperform" rating and issued a $25.00 price objective (up previously from $20.00) on shares of IGM Biosciences in a report on Wednesday, August 14th. HC Wainwright lowered their target price on shares of IGM Biosciences from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target on shares of IGM Biosciences from $11.00 to $12.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 price objective on shares of IGM Biosciences in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, IGM Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $16.63.
View Our Latest Research Report on IGM Biosciences
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Quest Partners LLC boosted its stake in shares of IGM Biosciences by 71.4% during the 2nd quarter. Quest Partners LLC now owns 11,913 shares of the company's stock worth $82,000 after acquiring an additional 4,961 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of IGM Biosciences during the second quarter valued at $84,000. XTX Topco Ltd boosted its position in shares of IGM Biosciences by 70.9% in the 2nd quarter. XTX Topco Ltd now owns 20,408 shares of the company's stock valued at $140,000 after purchasing an additional 8,467 shares during the period. EntryPoint Capital LLC acquired a new position in shares of IGM Biosciences in the 1st quarter valued at $152,000. Finally, Rhumbline Advisers increased its stake in IGM Biosciences by 13.1% in the 2nd quarter. Rhumbline Advisers now owns 22,726 shares of the company's stock worth $156,000 after purchasing an additional 2,635 shares in the last quarter. Institutional investors own 42.79% of the company's stock.
About IGM Biosciences
(
Get Free Report)
IGM Biosciences, Inc, a clinical-stage biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of cancer and autoimmune and inflammatory diseases. It develops Aplitabart, a Death Receptor 5 Agonist IgM antibody for the treatment of colorectal cancer; imvotamab, a CD20 x CD3 bispecific IgM antibody to treat myositis, as well as for the treatment of systemic lupus erythematosus and rheumatoid arthritis that is Phase Ib clinical trial; and IGM-2644, a bispecific T cell engaging IgM antibody targeting CD38 and CD3 proteins for the treatment of autoimmune diseases.
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