IGM Biosciences (NASDAQ:IGMS) Shares Down 4.1% - Should You Sell?

IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report)'s stock price fell 4.1% on Friday . The company traded as low as $10.00 and last traded at $10.00. 23,163 shares were traded during mid-day trading, a decline of 92% from the average session volume of 306,430 shares. The stock had previously closed at $10.43.

Analyst Ratings Changes

Several research firms have recently issued reports on IGMS. Wedbush decreased their price target on IGM Biosciences from $25.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, October 1st. Guggenheim lowered their price target on IGM Biosciences from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut shares of IGM Biosciences from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $12.00 to $9.00 in a research note on Tuesday, October 1st. Royal Bank of Canada upped their price objective on shares of IGM Biosciences from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, October 18th. Finally, Stifel Nicolaus lifted 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. 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $16.13.

IGM Biosciences Trading Down 3.7 %

The firm's fifty day moving average price is $14.00 and its 200-day moving average price is $11.12. The company has a market cap of $596.98 million, a P/E ratio of -2.76 and a beta of 0.20.

IGM Biosciences (NASDAQ:IGMS - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $0.52 million during the quarter, compared to analyst estimates of $0.23 million. As a group, research analysts forecast that IGM Biosciences, Inc. will post -3.33 earnings per share for the current fiscal year.

Insider Buying and Selling at IGM Biosciences

In other IGM Biosciences 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 transaction of $45,536.84. Following the completion of the transaction, the chief executive officer now directly owns 250,124 shares of the company's stock, valued at approximately $2,886,430.96. This trade represents a 1.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 5,902 shares of company stock valued at $68,109 in the last 90 days. 57.00% of the stock is currently owned by company insiders.

Institutional Trading of IGM Biosciences

Large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in IGM Biosciences by 2.7% in the third 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% during the 3rd quarter. Geode Capital Management LLC now owns 395,799 shares of the company's stock valued at $6,548,000 after acquiring an additional 28,118 shares during the last quarter. TD Asset Management Inc lifted its stake in IGM Biosciences by 3.4% in 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. raised its position in shares of IGM Biosciences by 12.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 148,402 shares of the company's stock valued at $2,455,000 after acquiring an additional 16,072 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in IGM Biosciences by 126.0% in the second quarter. Renaissance Technologies LLC now owns 108,693 shares of the company's stock worth $747,000 after purchasing an additional 60,593 shares during the period. 42.79% of the stock is 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.