IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report) CEO Mary Beth Harler sold 1,708 shares of IGM Biosciences stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.48, for a total transaction of $12,775.84. Following the transaction, the chief executive officer now directly owns 347,032 shares in the company, valued at approximately $2,595,799.36. This represents a 0.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
IGM Biosciences Price Performance
Shares of IGMS stock opened at $7.10 on Thursday. The stock has a market capitalization of $422.19 million, a price-to-earnings ratio of -1.95 and a beta of 0.08. The company's fifty day simple moving average is $12.35 and its two-hundred day simple moving average is $11.10. IGM Biosciences, Inc. has a 1 year low of $6.17 and a 1 year high of $22.50.
IGM Biosciences (NASDAQ:IGMS - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.19). IGM Biosciences had a negative net margin of 7,534.03% and a negative return on equity of 155.42%. The company had revenue of $0.52 million for the quarter, compared to the consensus estimate of $0.23 million. Equities research analysts anticipate that IGM Biosciences, Inc. will post -3.33 EPS for the current year.
Hedge Funds Weigh In On IGM Biosciences
WARNING: “Buffett Indicator” flashing for first time in 50 years
From Behind the Markets | Ad
Warren Buffett has sold a staggering $97 billion worth of stocks this year...
But why?
Our research indicates the Oracle of Omaha is quietly preparing for a historic market crash.
His most reliable crash indicator - the "Buffett indicator" - just flashed red for the first time in 25 years.
Take these 4 steps today to protect your retirement NOW
A number of large investors have recently modified their holdings of IGMS. State Street Corp lifted its stake in IGM Biosciences by 2.7% in the 3rd quarter. State Street Corp now owns 469,790 shares of the company's stock worth $7,770,000 after purchasing an additional 12,174 shares in the last quarter. Geode Capital Management LLC raised its position in shares of IGM Biosciences by 7.6% in the third quarter. Geode Capital Management LLC now owns 395,799 shares of the company's stock worth $6,548,000 after buying an additional 28,118 shares in the last quarter. TD Asset Management Inc boosted its stake in IGM Biosciences by 3.4% during the second quarter. TD Asset Management Inc now owns 164,472 shares of the company's stock valued at $1,130,000 after buying an additional 5,350 shares during the period. Charles Schwab Investment Management Inc. grew its position in IGM Biosciences by 12.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 148,402 shares of the company's stock worth $2,455,000 after buying an additional 16,072 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in IGM Biosciences by 126.0% in the 2nd quarter. Renaissance Technologies LLC now owns 108,693 shares of the company's stock worth $747,000 after acquiring an additional 60,593 shares during the last quarter. 42.79% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
IGMS has been the topic of several research analyst reports. JPMorgan Chase & Co. cut IGM Biosciences from a "neutral" rating to an "underweight" rating and cut their price objective for the stock from $12.00 to $9.00 in a research report on Tuesday, October 1st. Stifel Nicolaus increased their price target on shares of IGM Biosciences from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their price objective on shares of IGM Biosciences from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, October 18th. Guggenheim reduced their target price on shares of IGM Biosciences from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, October 1st. Finally, Wedbush lowered their price target on shares of IGM Biosciences from $25.00 to $22.00 and set an "outperform" rating on the stock in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.75.
View Our Latest Research Report on IGM Biosciences
IGM Biosciences Company Profile
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
