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

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report) have received an average recommendation of "Reduce" from the ten research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $5.50.

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

Institutional Trading of IGM Biosciences

Hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in IGM Biosciences in the 4th quarter worth approximately $184,000. Invesco Ltd. purchased a new position in shares of IGM Biosciences during the first quarter valued at approximately $42,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of IGM Biosciences during the fourth quarter valued at approximately $222,000. Nuveen LLC purchased a new position in shares of IGM Biosciences during the first quarter valued at approximately $52,000. Finally, Deutsche Bank AG increased its stake in shares of IGM Biosciences by 316.6% during the first 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 during the period. Institutional investors own 42.79% of the company's stock.

IGM Biosciences Stock Performance

IGMS traded up $0.01 during trading on Friday, reaching $1.28. 195,890 shares of the stock were exchanged, compared to its average volume of 377,219. The stock has a market cap of $76.52 million, a P/E ratio of -0.39 and a beta of 0.48. IGM Biosciences has a twelve month low of $0.92 and a twelve month high of $22.50. The stock's 50 day moving average price is $1.25 and its two-hundred day moving average price is $1.46.

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