IGM Biosciences, Inc. (NASDAQ:IGMS) Receives Consensus Recommendation of “Hold” from Analysts

IGM Biosciences, Inc. (NASDAQ:IGMS) has earned a consensus recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $14.67.

IGMS has been the subject of several research analyst reports. HC Wainwright reduced their price target on shares of IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Guggenheim cut their target price on shares of IGM Biosciences from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Royal Bank of Canada cut their target price on shares of IGM Biosciences from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded shares of IGM Biosciences from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $12.00 to $9.00 in a research report on Tuesday, October 1st. Finally, Wedbush cut their target price on shares of IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st.

Insider Activity

In other news, CEO Fred Schwarzer sold 3,946 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $11.54, for a total transaction of $45,536.84. Following the transaction, the chief executive officer now owns 250,124 shares in the company, valued at approximately $2,886,430.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Julie Hambleton sold 15,132 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $14.00, for a total transaction of $211,848.00. Following the transaction, the director now owns 2,000 shares in the company, valued at approximately $28,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fred Schwarzer sold 3,946 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $11.54, for a total transaction of $45,536.84. Following the transaction, the chief executive officer now owns 250,124 shares in the company, valued at $2,886,430.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,034 shares of company stock worth $279,957. 57.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Baker BROS. Advisors LP grew its stake in IGM Biosciences by 10.8% in the 1st quarter. Baker BROS. Advisors LP now owns 4,088,322 shares of the company’s stock valued at $39,452,000 after buying an additional 397,311 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in IGM Biosciences by 19.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,888,023 shares of the company’s stock valued at $37,520,000 after buying an additional 628,001 shares during the last quarter. Redmile Group LLC grew its stake in IGM Biosciences by 3.4% in the 1st quarter. Redmile Group LLC now owns 3,072,478 shares of the company’s stock valued at $29,649,000 after buying an additional 100,936 shares during the last quarter. TD Asset Management Inc grew its stake in IGM Biosciences by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 164,472 shares of the company’s stock valued at $1,130,000 after buying an additional 5,350 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in IGM Biosciences by 126.0% in the 2nd quarter. Renaissance Technologies LLC now owns 108,693 shares of the company’s stock valued at $747,000 after buying an additional 60,593 shares during the last quarter. 42.79% of the stock is currently owned by institutional investors and hedge funds.

IGM Biosciences Stock Performance

Shares of NASDAQ:IGMS opened at $15.41 on Tuesday. The company has a market cap of $909.56 million, a PE ratio of -3.58 and a beta of 0.21. IGM Biosciences has a 52 week low of $3.81 and a 52 week high of $22.50. The firm has a 50 day simple moving average of $11.83 and a 200 day simple moving average of $9.85.

IGM Biosciences (NASDAQ:IGMS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.97). The firm 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 7,571.35% and a negative return on equity of 119.02%. On average, equities analysts predict that IGM Biosciences will post -3.13 earnings per share for the current year.

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.