IGM Biosciences (NASDAQ:IGMS – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.97), Zacks reports. The business had revenue of $1.25 million during the quarter, compared to analysts’ expectations of $51.75 million. IGM Biosciences had a negative net margin of 11,255.25% and a negative return on equity of 108.07%.
IGM Biosciences Stock Performance
Shares of IGMS stock traded up $0.55 during trading hours on Thursday, reaching $9.27. The company had a trading volume of 207,686 shares, compared to its average volume of 315,216. IGM Biosciences has a 12-month low of $3.81 and a 12-month high of $17.70. The company has a market capitalization of $547.15 million, a price-to-earnings ratio of -2.14 and a beta of 0.19. The stock has a fifty day moving average of $8.66 and a 200-day moving average of $9.85.
Insider Buying and Selling
In other IGM Biosciences news, CEO Fred Schwarzer sold 4,164 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 254,070 shares in the company, valued at approximately $1,925,850.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other IGM Biosciences news, CEO Fred Schwarzer sold 4,164 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $7.58, for a total value of $31,563.12. Following the transaction, the chief executive officer now directly owns 254,070 shares in the company, valued at approximately $1,925,850.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julie Hambleton sold 15,132 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $14.00, for a total transaction of $211,848.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $28,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,361 shares of company stock worth $259,064. 57.00% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
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.
Featured Articles
- Five stocks we like better than IGM Biosciences
- What is a Bond Market Holiday? How to Invest and Trade
- Michael Burry’s Alibaba Bet and the Broader Market Implications
- What Does a Stock Split Mean?
- Jeff Brown’s Exegesis AI Stock Picks
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Warren Buffett’s Bet: Why Berkshire Hathaway Bought Ulta Stock
Receive News & Ratings for IGM Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IGM Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.