IGM Biosciences (NASDAQ:IGMS) Given New $27.00 Price Target at Stifel Nicolaus

IGM Biosciences (NASDAQ:IGMS - Free Report) had its price target raised by Stifel Nicolaus from $25.00 to $27.00 in a research report report published on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities analysts also recently commented on the company. Royal Bank of Canada increased their price target on IGM Biosciences from $17.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, October 18th. Wedbush dropped their price objective on IGM Biosciences from $25.00 to $22.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered IGM Biosciences from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $12.00 to $9.00 in a report on Tuesday, October 1st. Guggenheim cut their price target on IGM Biosciences from $25.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. Finally, HC Wainwright decreased their price target on shares of IGM Biosciences from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, IGM Biosciences currently has a consensus rating of "Hold" and a consensus target price of $15.22.

IGM Biosciences Trading Down 1.2 %

NASDAQ:IGMS traded down $0.15 on Monday, hitting $12.88. 545,104 shares of the company's stock traded hands, compared to its average volume of 310,630. The company has a market cap of $764.04 million, a PE ratio of -3.54 and a beta of 0.20. The firm has a 50-day moving average price of $14.79 and a 200-day moving average price of $11.07. IGM Biosciences has a 1 year low of $4.32 and a 1 year high of $22.50.

IGM Biosciences (NASDAQ:IGMS - Get Free Report) last issued 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). The firm had revenue of $1.25 million during the quarter, compared to analysts' expectations of $51.75 million. IGM Biosciences had a negative net margin of 7,571.35% and a negative return on equity of 119.02%. On average, research analysts forecast that IGM Biosciences will post -3.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other IGM Biosciences news, CEO Fred Schwarzer sold 3,946 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $11.54, for a total transaction of $45,536.84. Following the completion of the sale, the chief executive officer now directly owns 250,124 shares of the company's stock, valued at approximately $2,886,430.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 5,902 shares of company stock valued at $68,109. 57.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in shares of IGM Biosciences by 19.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,888,023 shares of the company's stock valued at $37,520,000 after buying an additional 628,001 shares in the last quarter. Baker BROS. Advisors LP lifted its holdings in shares of IGM Biosciences by 10.8% during the 1st quarter. Baker BROS. Advisors LP now owns 4,088,322 shares of the company's stock valued at $39,452,000 after purchasing an additional 397,311 shares in the last quarter. Redmile Group LLC boosted its holdings in shares of IGM Biosciences by 3.4% in the first quarter. Redmile Group LLC now owns 3,072,478 shares of the company's stock valued at $29,649,000 after buying an additional 100,936 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of IGM Biosciences during the first quarter worth $758,000. Finally, Renaissance Technologies LLC increased its holdings in IGM Biosciences by 126.0% during the 2nd quarter. Renaissance Technologies LLC now owns 108,693 shares of the company's stock worth $747,000 after purchasing an additional 60,593 shares in the last quarter. 42.79% of the stock is currently owned by institutional investors.

IGM Biosciences Company Profile

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.