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TSLA   864.27 (-0.67%)
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NVDA   222.90 (+0.31%)
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NIO   40.03 (+1.06%)
CGC   14.34 (+8.64%)
GE   104.73 (+0.59%)
AMD   116.33 (-0.09%)
MU   67.57 (+0.46%)
T   25.59 (+1.03%)
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ACB   7.45 (+7.66%)
DIS   171.18 (+0.02%)
PFE   42.09 (+1.86%)
BA   215.97 (-0.47%)
AMC   40.80 (-5.18%)
QQQ   375.47 (+0.76%)
AAPL   148.76 (+1.51%)
MSFT   308.23 (+0.31%)
FB   339.99 (+1.39%)
GOOGL   2,864.74 (+0.32%)
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AMZN   3,444.15 (-0.08%)
NVDA   222.90 (+0.31%)
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CGC   14.34 (+8.64%)
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AMD   116.33 (-0.09%)
MU   67.57 (+0.46%)
T   25.59 (+1.03%)
F   15.42 (-0.90%)
ACB   7.45 (+7.66%)
DIS   171.18 (+0.02%)
PFE   42.09 (+1.86%)
BA   215.97 (-0.47%)
AMC   40.80 (-5.18%)
QQQ   375.47 (+0.76%)
AAPL   148.76 (+1.51%)
MSFT   308.23 (+0.31%)
FB   339.99 (+1.39%)
GOOGL   2,864.74 (+0.32%)
TSLA   864.27 (-0.67%)
AMZN   3,444.15 (-0.08%)
NVDA   222.90 (+0.31%)
BABA   177.00 (+6.10%)
NIO   40.03 (+1.06%)
CGC   14.34 (+8.64%)
GE   104.73 (+0.59%)
AMD   116.33 (-0.09%)
MU   67.57 (+0.46%)
T   25.59 (+1.03%)
F   15.42 (-0.90%)
ACB   7.45 (+7.66%)
DIS   171.18 (+0.02%)
PFE   42.09 (+1.86%)
BA   215.97 (-0.47%)
AMC   40.80 (-5.18%)

IGM Biosciences (NASDAQ:IGMS) Stock Price Down 6.5% on Insider Selling

Wednesday, October 6, 2021 | MarketBeat

IGM Biosciences, Inc. (NASDAQ:IGMS) was down 6.5% during trading on Wednesday following insider selling activity. The stock traded as low as $62.08 and last traded at $62.08. Approximately 1,275 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 165,511 shares. The stock had previously closed at $66.39.Specifically, insider Bruce Keyt sold 1,242 shares of IGM Biosciences stock in a transaction that occurred on Tuesday, October 5th. The shares were sold at an average price of $64.10, for a total transaction of $79,612.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Julie Hambleton sold 1,000 shares of IGM Biosciences stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,728 shares of company stock valued at $330,765 over the last 90 days. Corporate insiders own 61.92% of the company's stock.

A number of equities research analysts have weighed in on IGMS shares. Wedbush boosted their target price on shares of IGM Biosciences from $77.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, August 16th. They noted that the move was a valuation call. Morgan Stanley assumed coverage on shares of IGM Biosciences in a report on Thursday, August 26th. They set an "overweight" rating and a $100.00 price objective on the stock. HC Wainwright restated a "buy" rating and set a $114.00 price objective on shares of IGM Biosciences in a report on Tuesday, August 10th. Finally, Zacks Investment Research upgraded shares of IGM Biosciences from a "sell" rating to a "hold" rating in a report on Tuesday, August 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, IGM Biosciences presently has an average rating of "Buy" and a consensus price target of $104.00.

The company has a market cap of $2.00 billion, a P/E ratio of -17.56 and a beta of -1.04. The company's 50-day moving average is $72.89 and its two-hundred day moving average is $75.63.

IGM Biosciences (NASDAQ:IGMS) last posted its quarterly earnings results on Sunday, August 8th. The company reported ($1.16) earnings per share for the quarter, meeting the Thomson Reuters' consensus estimate of ($1.16). As a group, sell-side analysts forecast that IGM Biosciences, Inc. will post -5.03 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of IGMS. Macquarie Group Ltd. boosted its position in IGM Biosciences by 313.6% during the second quarter. Macquarie Group Ltd. now owns 579 shares of the company's stock worth $48,000 after purchasing an additional 439 shares during the period. Nisa Investment Advisors LLC bought a new position in IGM Biosciences during the second quarter worth about $50,000. Legal & General Group Plc boosted its position in IGM Biosciences by 16.4% during the second quarter. Legal & General Group Plc now owns 1,336 shares of the company's stock worth $112,000 after purchasing an additional 188 shares during the period. E Fund Management Co. Ltd. bought a new position in IGM Biosciences during the first quarter worth about $121,000. Finally, Metropolitan Life Insurance Co NY boosted its position in IGM Biosciences by 115,000.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 2,302 shares of the company's stock worth $192,000 after purchasing an additional 2,300 shares during the period. Hedge funds and other institutional investors own 50.86% of the company's stock.

About IGM Biosciences (NASDAQ:IGMS)

IGM Biosciences, Inc, a biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of multiple diseases. Its lead product candidate is IGM-2323, a bispecific IgM antibody that is in Phase 1 clinical trials to treat patients with relapsed/refractory B cell Non-Hodgkin's lymphoma (NHL).

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