IGM Biosciences, Inc. (NASDAQ:IGMS) Receives Average Rating of "Reduce" from Analysts

IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report) has been given a consensus rating of "Reduce" by the ten brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and nine have issued a hold rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $5.50.

Separately, Wall Street Zen raised IGM Biosciences from a "sell" rating to a "hold" rating in a report on Friday.

IGM Biosciences Price Performance

NASDAQ IGMS traded down $0.05 during trading hours on Friday, hitting $1.28. The company had a trading volume of 365,535 shares, compared to its average volume of 313,744. IGM Biosciences has a fifty-two week low of $0.92 and a fifty-two week high of $22.50. The firm's 50 day moving average is $1.22 and its 200 day moving average is $3.29. The company has a market capitalization of $76.51 million, a price-to-earnings ratio of -0.35 and a beta of 0.61.

IGM Biosciences (NASDAQ:IGMS - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.45). IGM Biosciences had a negative net margin of 7,534.03% and a negative return on equity of 155.42%. The business had revenue of $0.50 million for the quarter, compared to analysts' expectations of $4.25 million. On average, equities analysts anticipate that IGM Biosciences will post -3.35 EPS for the current year.

Institutional Investors Weigh In On IGM Biosciences

Several hedge funds have recently made changes to their positions in the stock. Invesco Ltd. bought a new stake in shares of IGM Biosciences in the 1st quarter worth approximately $42,000. China Universal Asset Management Co. Ltd. acquired a new stake in IGM Biosciences during the fourth quarter worth $44,000. Nuveen LLC bought a new stake in IGM Biosciences in the 1st quarter valued at $52,000. Deutsche Bank AG raised its stake in shares of IGM Biosciences by 316.6% in the 1st quarter. Deutsche Bank AG now owns 46,773 shares of the company's stock valued at $54,000 after buying an additional 35,546 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of IGM Biosciences during the 1st quarter worth about $97,000. Institutional investors own 42.79% of the company's stock.

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.