IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Sells $11,900.60 in Stock

IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Misbah Tahir sold 1,570 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $7.58, for a total transaction of $11,900.60. Following the completion of the sale, the chief financial officer now owns 88,848 shares in the company, valued at approximately $673,467.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

IGM Biosciences Trading Down 1.0 %

Shares of IGMS stock traded down $0.07 during trading hours on Tuesday, reaching $7.24. 278,308 shares of the stock were exchanged, compared to its average volume of 310,985. The firm has a market capitalization of $427.30 million, a price-to-earnings ratio of -1.68 and a beta of 0.23. The company’s 50-day moving average price is $8.75 and its 200-day moving average price is $9.86. IGM Biosciences, Inc. has a 12-month low of $3.81 and a 12-month high of $17.70.

IGM Biosciences (NASDAQ:IGMS) last released its earnings results on Wednesday, May 8th. The company reported ($0.83) earnings per share 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 for the quarter, compared to analyst estimates of $0.71 million. On average, sell-side analysts expect that IGM Biosciences, Inc. will post -2.31 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on IGMS shares. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of IGM Biosciences in a report on Thursday, May 9th. HC Wainwright reissued a “neutral” rating and issued a $12.00 price objective on shares of IGM Biosciences in a research note on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.89.

Institutional Investors Weigh In On IGM Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its position in shares of IGM Biosciences by 7,258.5% during the fourth 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 period. DekaBank Deutsche Girozentrale purchased a new position in IGM Biosciences during the 3rd quarter worth $50,000. Pale Fire Capital SE bought a new stake in IGM Biosciences during the 3rd quarter valued at $105,000. EntryPoint Capital LLC purchased a new stake in shares of IGM Biosciences in the 1st quarter worth $152,000. Finally, Exchange Traded Concepts LLC grew its position in shares of 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 buying an additional 4,830 shares in the last quarter. Institutional investors own 42.79% of the company’s stock.

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.