IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $8.89, but opened at $8.51. IGM Biosciences shares last traded at $8.92, with a volume of 62,293 shares.
Analyst Ratings Changes
Several brokerages recently commented on IGMS. HC Wainwright reduced their price target on IGM Biosciences from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Stifel Nicolaus boosted their target price on shares of IGM Biosciences from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Wedbush cut their price target on shares of IGM Biosciences from $25.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. downgraded shares of IGM Biosciences from a "neutral" rating to an "underweight" rating and decreased their price objective for the company from $12.00 to $9.00 in a research report on Tuesday, October 1st. Finally, Guggenheim dropped their target price on shares of IGM Biosciences from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $16.13.
Read Our Latest Stock Analysis on IGM Biosciences
IGM Biosciences Stock Performance
The company has a fifty day moving average of $14.68 and a two-hundred day moving average of $11.10. The firm has a market capitalization of $528.60 million, a price-to-earnings ratio of -2.44 and a beta of 0.20.
IGM Biosciences (NASDAQ:IGMS - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.19). 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 $0.52 million during the quarter, compared to analyst estimates of $0.23 million. Equities analysts forecast that IGM Biosciences, Inc. will post -3.28 EPS for the current year.
Insider Buying and Selling
In other news, CEO Fred Schwarzer sold 3,946 shares of IGM Biosciences stock in a transaction on Friday, September 13th. The stock was sold at an average price of $11.54, for a total value of $45,536.84. Following the transaction, the chief executive officer now owns 250,124 shares in the company, valued at approximately $2,886,430.96. This trade represents a 1.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 5,902 shares of company stock valued at $68,109 over the last 90 days. 57.00% of the stock is owned by corporate insiders.
Institutional Trading of IGM Biosciences
Several large investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. bought a new position in shares of IGM Biosciences in the first quarter worth about $758,000. Price T Rowe Associates Inc. MD increased its holdings in shares of IGM Biosciences by 19.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,888,023 shares of the company's stock worth $37,520,000 after buying an additional 628,001 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of IGM Biosciences by 51.6% in the 2nd quarter. Marshall Wace LLP now owns 107,267 shares of the company's stock valued at $737,000 after acquiring an additional 36,491 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of IGM Biosciences during the 2nd quarter valued at $84,000. Finally, TD Asset Management Inc grew its position in IGM Biosciences by 3.4% during the 2nd quarter. TD Asset Management Inc now owns 164,472 shares of the company's stock worth $1,130,000 after acquiring an additional 5,350 shares during the last quarter. 42.79% of the stock is owned by institutional investors and hedge funds.
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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