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

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

Separately, Wall Street Zen cut IGM Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of IGM Biosciences by 14.0% in the 4th quarter. Renaissance Technologies LLC now owns 75,800 shares of the company's stock valued at $463,000 after purchasing an additional 9,300 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of IGM Biosciences by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 157,843 shares of the company's stock valued at $964,000 after buying an additional 9,441 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of IGM Biosciences by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 409,133 shares of the company's stock worth $2,501,000 after buying an additional 13,334 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of IGM Biosciences in the 4th quarter worth about $184,000. Finally, Deutsche Bank AG boosted its position 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 worth $54,000 after buying an additional 35,546 shares in the last quarter. Hedge funds and other institutional investors own 42.79% of the company's stock.

IGM Biosciences Stock Performance

Shares of IGMS traded up $0.03 during midday trading on Wednesday, hitting $1.21. 99,668 shares of the stock were exchanged, compared to its average volume of 304,008. IGM Biosciences has a 52-week low of $0.92 and a 52-week high of $22.50. The stock has a fifty day simple moving average of $1.24 and a 200 day simple moving average of $2.28. The firm has a market cap of $72.33 million, a P/E ratio of -0.37 and a beta of 0.52.

IGM Biosciences (NASDAQ:IGMS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.45). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $4.25 million. IGM Biosciences had a negative return on equity of 317.97% and a negative net margin of 7,417.79%. As a group, equities research analysts forecast that IGM Biosciences will post -3.35 EPS for the current fiscal 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.