IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the ten brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $5.50.
Several equities research analysts have recently weighed in on IGMS shares. Royal Bank of Canada cut shares of IGM Biosciences from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $20.00 to $1.50 in a research report on Friday, January 10th. BMO Capital Markets reiterated a "market perform" rating and set a $2.00 price target (down from $21.00) on shares of IGM Biosciences in a report on Friday, January 10th. Morgan Stanley downgraded IGM Biosciences from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $12.00 to $2.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. raised IGM Biosciences from an "underweight" rating to a "neutral" rating in a research note on Monday, January 13th. Finally, Wedbush reissued a "neutral" rating and issued a $3.00 price target (down from $22.00) on shares of IGM Biosciences in a research note on Friday, January 10th.
Read Our Latest Research Report on IGM Biosciences
IGM Biosciences Stock Performance
Shares of IGMS stock remained flat at $1.26 during trading hours on Tuesday. 157,091 shares of the stock traded hands, compared to its average volume of 341,365. The stock has a market cap of $75.32 million, a PE ratio of -0.35 and a beta of 0.37. The firm has a 50 day moving average price of $1.45 and a 200 day moving average price of $8.08. IGM Biosciences has a 12-month low of $1.15 and a 12-month high of $22.50.
IGM Biosciences (NASDAQ:IGMS - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.61) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.13. IGM Biosciences had a negative return on equity of 155.42% and a negative net margin of 7,534.03%. The business had revenue of $0.41 million during the quarter, compared to the consensus estimate of $0.39 million. Equities analysts forecast that IGM Biosciences will post -3.35 earnings per share for the current fiscal year.
Hedge Funds Weigh In On IGM Biosciences
A number of hedge funds have recently added to or reduced their stakes in IGMS. China Universal Asset Management Co. Ltd. bought a new position in shares of IGM Biosciences during the fourth quarter valued at about $44,000. MetLife Investment Management LLC purchased a new position in shares of IGM Biosciences in the 3rd quarter worth approximately $149,000. Cubist Systematic Strategies LLC purchased a new stake in shares of IGM Biosciences during the fourth quarter valued at approximately $184,000. Susquehanna Fundamental Investments LLC bought a new stake in IGM Biosciences during the fourth quarter worth $222,000. Finally, Barclays PLC boosted its position in IGM Biosciences by 48.4% in the third quarter. Barclays PLC now owns 21,554 shares of the company's stock worth $356,000 after purchasing an additional 7,027 shares during the last quarter. Institutional investors and hedge funds own 42.79% of the company's stock.
About IGM Biosciences
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Get Free ReportIGM 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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