IGM Biosciences' (IGMS) Hold Rating Reiterated at Jefferies Financial Group

IGM Biosciences (NASDAQ:IGMS - Get Free Report)'s stock had its "hold" rating reissued by analysts at Jefferies Financial Group in a report issued on Friday,Benzinga reports. They currently have a $2.00 target price on the stock, down from their previous target price of $48.00. Jefferies Financial Group's price target would suggest a potential downside of 4.31% from the stock's current price.

Several other research firms have also recently commented on IGMS. Truist Financial decreased their price target on shares of IGM Biosciences from $12.00 to $2.00 and set a "hold" rating for the company in a report on Friday. Guggenheim cut shares of IGM Biosciences from a "buy" rating to a "neutral" rating in a report on Friday. BMO Capital Markets reiterated a "market perform" rating and set a $2.00 price objective (down from $21.00) on shares of IGM Biosciences in a report on Friday. JPMorgan Chase & Co. downgraded 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 research note on Tuesday, October 1st. Finally, Wedbush reiterated a "neutral" rating and issued a $3.00 target price (down from $22.00) on shares of IGM Biosciences in a research note on Friday. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $5.50.

IGM Biosciences Stock Down 66.3 %

Shares of IGM Biosciences stock traded down $4.11 during trading on Friday, hitting $2.09. The stock had a trading volume of 5,793,813 shares, compared to its average volume of 1,149,459. IGM Biosciences has a 1 year low of $1.87 and a 1 year high of $22.50. The stock has a 50 day simple moving average of $9.22 and a 200 day simple moving average of $10.93. The company has a market capitalization of $124.28 million, a PE ratio of -0.57 and a beta of 0.11.

IGM Biosciences (NASDAQ:IGMS - Get Free Report) last released its earnings results 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). The business had revenue of $0.52 million during the quarter, compared to analysts' expectations of $0.23 million. IGM Biosciences had a negative net margin of 7,534.03% and a negative return on equity of 155.42%. As a group, equities analysts expect that IGM Biosciences will post -3.33 earnings per share for the current fiscal year.

Institutional Trading of IGM Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of IGMS. Quest Partners LLC increased its stake in IGM Biosciences by 71.4% in the second quarter. Quest Partners LLC now owns 11,913 shares of the company's stock valued at $82,000 after acquiring an additional 4,961 shares during the period. AQR Capital Management LLC acquired a new stake in IGM Biosciences in the 2nd quarter valued at $84,000. XTX Topco Ltd grew its position in IGM Biosciences by 70.9% in the second quarter. XTX Topco Ltd now owns 20,408 shares of the company's stock valued at $140,000 after acquiring an additional 8,467 shares during the period. MetLife Investment Management LLC acquired a new position in IGM Biosciences during the third quarter worth $149,000. Finally, Rhumbline Advisers lifted its holdings in shares of IGM Biosciences by 13.1% during the second quarter. Rhumbline Advisers now owns 22,726 shares of the company's stock valued at $156,000 after acquiring an additional 2,635 shares during the period. 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.