IGM Biosciences, Inc. (NASDAQ:IGMS) Given Consensus Rating of “Hold” by Analysts

IGM Biosciences, Inc. (NASDAQ:IGMS) has earned an average rating of “Hold” from the nine ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $15.00.

Several brokerages have commented on IGMS. Royal Bank of Canada upped their target price on shares of IGM Biosciences from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. cut shares of IGM Biosciences from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $12.00 to $9.00 in a research report on Tuesday, October 1st. Guggenheim dropped their price objective on IGM Biosciences from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. HC Wainwright decreased their target price on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, Wedbush dropped their price target on IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st.

Insider Transactions at IGM Biosciences

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

Institutional Trading of IGM Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baker BROS. Advisors LP raised its stake 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 worth $39,452,000 after purchasing an additional 397,311 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in IGM Biosciences by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,888,023 shares of the company’s stock valued at $37,520,000 after acquiring an additional 628,001 shares during the last quarter. Redmile Group LLC grew its position in shares of IGM Biosciences by 3.4% in the 1st quarter. Redmile Group LLC now owns 3,072,478 shares of the company’s stock valued at $29,649,000 after acquiring an additional 100,936 shares during the period. TD Asset Management Inc raised its holdings in shares of IGM Biosciences by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 164,472 shares of the company’s stock valued at $1,130,000 after purchasing an additional 5,350 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in IGM Biosciences by 126.0% in the 2nd quarter. Renaissance Technologies LLC now owns 108,693 shares of the company’s stock valued at $747,000 after purchasing an additional 60,593 shares during the last quarter. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Stock Down 5.4 %

NASDAQ:IGMS opened at $16.22 on Friday. IGM Biosciences has a 12-month low of $4.12 and a 12-month high of $22.50. The stock’s fifty day simple moving average is $14.34 and its 200-day simple moving average is $10.78. The firm has a market capitalization of $962.17 million, a P/E ratio of -4.42 and a beta of 0.21.

IGM Biosciences (NASDAQ:IGMS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.97). The company had revenue of $1.25 million for the quarter, compared to analyst estimates of $51.75 million. IGM Biosciences had a negative return on equity of 119.02% and a negative net margin of 7,571.35%. As a group, equities research analysts expect that IGM Biosciences will post -3.17 earnings per share for the current year.

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.