1,438,975 Shares in IGM Biosciences, Inc. (NASDAQ:IGMS) Purchased by Sanofi

Sanofi purchased a new stake in IGM Biosciences, Inc. (NASDAQ:IGMS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,438,975 shares of the company's stock, valued at approximately $8,792,000. IGM Biosciences comprises 5.0% of Sanofi's holdings, making the stock its 5th biggest holding. Sanofi owned about 2.42% of IGM Biosciences at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of IGM Biosciences by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 409,133 shares of the company's stock worth $2,501,000 after purchasing an additional 13,334 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 worth $964,000 after purchasing an additional 9,441 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of IGM Biosciences by 14.0% in the fourth quarter. Renaissance Technologies LLC now owns 75,800 shares of the company's stock worth $463,000 after purchasing an additional 9,300 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of IGM Biosciences in the fourth quarter worth about $222,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of IGM Biosciences in the fourth quarter worth about $184,000. 42.79% of the stock is currently owned by hedge funds and other institutional investors.

IGM Biosciences Stock Up 5.1%

Shares of NASDAQ:IGMS traded up $0.06 during trading on Monday, hitting $1.24. The stock had a trading volume of 189,535 shares, compared to its average volume of 326,328. IGM Biosciences, Inc. has a 12-month low of $0.92 and a 12-month high of $22.50. The stock has a market capitalization of $74.12 million, a price-to-earnings ratio of -0.34 and a beta of 0.61. The stock has a 50-day simple moving average of $1.22 and a two-hundred day simple moving average of $4.00.

IGM Biosciences (NASDAQ:IGMS - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.45). The company 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 155.42% and a negative net margin of 7,534.03%. As a group, sell-side analysts forecast that IGM Biosciences, Inc. will post -3.35 earnings per share for the current year.

About IGM Biosciences

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.