IGM Biosciences, Inc. (NASDAQ:IGMS) Given Consensus Rating of "Reduce" by Brokerages

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report) have been assigned a consensus rating of "Reduce" from the ten research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $5.50.

Separately, Wall Street Zen upgraded shares of IGM Biosciences from a "sell" rating to a "hold" rating in a research note on Friday, May 30th.

IGM Biosciences Trading Up 0.8%

Shares of NASDAQ IGMS traded up $0.01 during trading hours on Friday, reaching $1.26. The stock had a trading volume of 174,098 shares, compared to its average volume of 310,014. The firm has a 50-day moving average of $1.22 and a 200-day moving average of $3.16. The firm has a market cap of $75.32 million, a price-to-earnings ratio of -0.35 and a beta of 0.61. IGM Biosciences has a fifty-two week low of $0.92 and a fifty-two week high of $22.50.

IGM Biosciences (NASDAQ:IGMS - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $0.50 million for the quarter, compared to analysts' expectations of $4.25 million. On average, equities analysts predict that IGM Biosciences will post -3.35 EPS for the current year.

Hedge Funds Weigh In On IGM Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in shares of IGM Biosciences in the first quarter valued at about $97,000. AQR Capital Management LLC purchased a new position in IGM Biosciences in the first quarter valued at about $275,000. Nuveen LLC purchased a new position in IGM Biosciences in the first quarter valued at about $52,000. Invesco Ltd. acquired a new stake in shares of IGM Biosciences during the 1st quarter valued at approximately $42,000. Finally, Deutsche Bank AG boosted its stake in shares of IGM Biosciences by 316.6% during the 1st quarter. Deutsche Bank AG now owns 46,773 shares of the company's stock worth $54,000 after acquiring an additional 35,546 shares in the last quarter. 42.79% of the stock is owned by institutional investors and hedge funds.

About IGM Biosciences

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.