IGM Biosciences (NASDAQ:IGMS) Sees Large Volume Increase

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) saw strong trading volume on Friday . 140,539 shares traded hands during trading, a decline of 54% from the previous session’s volume of 305,370 shares.The stock last traded at $9.80 and had previously closed at $9.30.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of IGM Biosciences in a research note on Thursday, May 9th. HC Wainwright restated a “neutral” rating and set a $12.00 target price on shares of IGM Biosciences in a research note on Friday, May 24th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.89.

IGM Biosciences Trading Down 1.1 %

The firm has a fifty day simple moving average of $8.22 and a 200 day simple moving average of $9.82. The stock has a market cap of $542.98 million, a price-to-earnings ratio of -2.28 and a beta of 0.20.

IGM Biosciences (NASDAQ:IGMS) last issued its earnings results on Wednesday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.01. IGM Biosciences had a negative return on equity of 108.07% and a negative net margin of 11,255.25%. The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $0.71 million. On average, equities analysts expect that IGM Biosciences, Inc. will post -2.31 earnings per share for the current year.

Insider Transactions at IGM Biosciences

In other news, CEO Fred Schwarzer sold 4,164 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $7.58, for a total value of $31,563.12. Following the completion of the transaction, the chief executive officer now directly owns 254,070 shares of the company’s stock, valued at approximately $1,925,850.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 6,229 shares of company stock valued at $47,216. Corporate insiders own 57.00% of the company’s stock.

Institutional Investors Weigh In On IGM Biosciences

A number of large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in IGM Biosciences by 7,258.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,900 shares of the company’s stock worth $32,000 after acquiring an additional 3,847 shares during the last quarter. Exchange Traded Concepts LLC grew its position in IGM Biosciences by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 19,048 shares of the company’s stock worth $158,000 after acquiring an additional 4,830 shares during the last quarter. EntryPoint Capital LLC bought a new stake in IGM Biosciences during the 1st quarter worth approximately $152,000. Susquehanna Fundamental Investments LLC bought a new stake in IGM Biosciences during the 1st quarter worth approximately $268,000. Finally, Panagora Asset Management Inc. bought a new stake in IGM Biosciences during the 4th quarter worth approximately $252,000. 42.79% of the stock is currently owned by institutional investors.

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.