IGM Biosciences, Inc. (NASDAQ:IGMS) Receives Consensus Rating of "Moderate Buy" from Brokerages

IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight analysts that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $16.89.

IGMS has been the topic of several analyst reports. Bank of America lowered IGM Biosciences from a "buy" rating to a "neutral" rating and set a $8.00 price target on the stock. in a report on Friday, December 15th. Royal Bank of Canada upgraded IGM Biosciences from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $9.00 to $21.00 in a report on Friday, February 9th.

IGM Biosciences Trading Down 0.2 %

IGMS traded down $0.02 on Tuesday, hitting $8.74. 170,556 shares of the company's stock were exchanged, compared to its average volume of 280,246. IGM Biosciences has a fifty-two week low of $3.81 and a fifty-two week high of $17.70. The firm has a 50-day moving average price of $11.75 and a 200-day moving average price of $8.70. The stock has a market cap of $513.82 million, a price-to-earnings ratio of -1.82 and a beta of 0.26.

IGM Biosciences (NASDAQ:IGMS - Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.05. IGM Biosciences had a negative return on equity of 103.20% and a negative net margin of 11,568.83%. The business had revenue of $0.65 million for the quarter, compared to analyst estimates of $0.95 million. On average, equities analysts predict that IGM Biosciences will post -3.23 EPS for the current year.

Insider Activity at IGM Biosciences

In related news, CFO Misbah Tahir sold 2,897 shares of the business's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $9.88, for a total value of $28,622.36. Following the sale, the chief financial officer now directly owns 92,961 shares in the company, valued at approximately $918,454.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other IGM Biosciences news, CEO Fred Schwarzer sold 4,765 shares of the business's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $9.88, for a total transaction of $47,078.20. Following the sale, the chief executive officer now directly owns 220,833 shares in the company, valued at $2,181,830.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Misbah Tahir sold 2,897 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $9.88, for a total transaction of $28,622.36. Following the sale, the chief financial officer now owns 92,961 shares in the company, valued at $918,454.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,191 shares of company stock worth $80,927. Company insiders own 56.91% of the company's stock.

Institutional Trading of IGM Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. acquired a new position in shares of IGM Biosciences during the second quarter worth about $8,653,000. Goldman Sachs Group Inc. grew its position in shares of IGM Biosciences by 127.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,040,509 shares of the company's stock worth $8,647,000 after buying an additional 583,516 shares in the last quarter. Rhenman & Partners Asset Management AB grew its position in shares of IGM Biosciences by 275.0% during the third quarter. Rhenman & Partners Asset Management AB now owns 750,000 shares of the company's stock worth $6,262,000 after buying an additional 550,000 shares in the last quarter. Vanguard Group Inc. grew its position in shares of IGM Biosciences by 100.0% during the first quarter. Vanguard Group Inc. now owns 830,077 shares of the company's stock worth $22,188,000 after buying an additional 415,028 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of IGM Biosciences by 16.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,622,873 shares of the company's stock worth $47,290,000 after buying an additional 376,832 shares in the last quarter. 42.79% of the stock is currently owned by hedge funds and other institutional investors.

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.