Mary Beth Harler Sells 14,501 Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) Stock

Key Points

• CEO Mary Beth Harler sold 14,501 shares of IGM Biosciences at an average price of $1.27, totaling approximately $18,416.27, reducing her ownership by 4.29%.
• IGM Biosciences reported a quarterly loss of ($0.86) EPS, significantly missing analysts' expectations and generating only $0.50 million in revenue versus forecasts of $4.25 million.
• Wall Street analysts recently downgraded IGM Biosciences from a "hold" to a "sell" rating, with a consensus price target of $5.50.

IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report) CEO Mary Beth Harler sold 14,501 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $1.27, for a total value of $18,416.27. Following the sale, the chief executive officer directly owned 323,680 shares of the company's stock, valued at $411,073.60. This represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Mary Beth Harler also recently made the following trade(s):

• On Monday, June 16th, Mary Beth Harler sold 1,522 shares of IGM Biosciences stock. The stock was sold at an average price of $1.20, for a total transaction of $1,826.40.

IGM Biosciences Stock Up 0.4%

NASDAQ:IGMS traded up $0.01 on Tuesday, hitting $1.27. The stock had a trading volume of 109,887 shares, compared to its average volume of 469,144. The stock has a market cap of $75.62 million, a price-to-earnings ratio of -0.39 and a beta of 0.48. The company has a fifty day moving average price of $1.26 and a two-hundred day moving average price of $1.32. IGM Biosciences, Inc. has a 1-year low of $0.92 and a 1-year high of $22.50.

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 the consensus estimate of ($0.41) by ($0.45). IGM Biosciences had a negative net margin of 7,417.79% and a negative return on equity of 317.97%. The business had revenue of $0.50 million for the quarter, compared to analysts' expectations of $4.25 million. As a group, analysts anticipate that IGM Biosciences, Inc. will post -3.35 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of IGM Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.50.

Institutional Trading of IGM Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sanofi bought a new stake in IGM Biosciences during the fourth quarter worth approximately $8,792,000. Geode Capital Management LLC boosted its holdings in IGM Biosciences by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 409,133 shares of the company's stock valued at $2,501,000 after acquiring an additional 13,334 shares during the last quarter. AQR Capital Management LLC bought a new position in IGM Biosciences during the first quarter worth about $275,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of IGM Biosciences by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 157,843 shares of the company's stock valued at $964,000 after purchasing an additional 9,441 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in IGM Biosciences by 196.7% in the 4th quarter. Two Sigma Investments LP now owns 107,620 shares of the company's stock valued at $658,000 after buying an additional 71,343 shares during the last quarter. Institutional investors and hedge funds 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.