IGM Biosciences, Inc. (NASDAQ:IGMS) Given Consensus Rating of “Moderate Buy” by Analysts

IGM Biosciences, Inc. (NASDAQ:IGMS) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $17.89.

A number of brokerages have recently issued reports on IGMS. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of IGM Biosciences in a research note 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.

IGM Biosciences Trading Up 3.9 %

Shares of IGMS opened at $6.87 on Friday. The company has a market capitalization of $405.47 million, a PE ratio of -1.59 and a beta of 0.23. IGM Biosciences has a 12 month low of $3.81 and a 12 month high of $17.70. The stock’s 50-day moving average price is $8.52 and its two-hundred day moving average price is $9.84.

IGM Biosciences (NASDAQ:IGMS) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.01. The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $0.71 million. IGM Biosciences had a negative return on equity of 108.07% and a negative net margin of 11,255.25%. Equities research analysts predict that IGM Biosciences will post -2.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Fred Schwarzer sold 4,164 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $7.58, for a total transaction of $31,563.12. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders have sold 6,229 shares of company stock valued at $47,216. 57.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in IGM Biosciences during the 3rd quarter worth approximately $50,000. Pale Fire Capital SE bought a new stake in IGM Biosciences during the 3rd quarter worth approximately $105,000. GSA Capital Partners LLP increased its holdings in IGM Biosciences by 24.7% during the 3rd quarter. GSA Capital Partners LLP now owns 133,276 shares of the company’s stock worth $1,113,000 after purchasing an additional 26,358 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in IGM Biosciences during the 3rd quarter worth approximately $1,038,000. Finally, Exchange Traded Concepts LLC increased its holdings 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 purchasing an additional 4,830 shares in the last quarter. 42.79% of the stock is owned by institutional investors and hedge funds.

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.