IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Sells $12,775.84 in Stock

IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Mary Beth Harler sold 1,708 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $7.48, for a total value of $12,775.84. Following the completion of the sale, the chief executive officer now owns 347,032 shares of the company’s stock, valued at approximately $2,595,799.36. The trade was a 0.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

IGM Biosciences Stock Performance

Shares of NASDAQ:IGMS opened at $6.90 on Friday. The firm has a market cap of $410.30 million, a price-to-earnings ratio of -1.90 and a beta of 0.08. The firm has a fifty day moving average price of $12.06 and a 200 day moving average price of $11.06. IGM Biosciences, Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $22.50.

IGM Biosciences (NASDAQ:IGMS) last released its quarterly earnings data on Friday, November 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.19). The company had revenue of $0.52 million for the quarter, compared to the consensus estimate of $0.23 million. IGM Biosciences had a negative net margin of 7,534.03% and a negative return on equity of 155.42%. As a group, research analysts predict that IGM Biosciences, Inc. will post -3.33 earnings per share for the current year.

Analyst Ratings Changes

IGMS has been the subject of a number of recent research reports. Wedbush cut their price objective on IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. Guggenheim dropped their price target 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. Truist Financial downgraded shares of IGM Biosciences from a “buy” rating to a “hold” rating and decreased their price objective for the company from $24.00 to $12.00 in a research report on Tuesday, October 1st. BMO Capital Markets began coverage on shares of IGM Biosciences in a report on Friday, December 6th. They issued an “outperform” rating and a $21.00 target price for the company. Finally, Royal Bank of Canada increased their price target on IGM Biosciences from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

Hedge Funds Weigh In On IGM Biosciences

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in shares of IGM Biosciences during the 2nd quarter valued at approximately $84,000. Marshall Wace LLP raised its stake in IGM Biosciences by 51.6% during the second quarter. Marshall Wace LLP now owns 107,267 shares of the company’s stock valued at $737,000 after purchasing an additional 36,491 shares in the last quarter. TD Asset Management Inc lifted its position in IGM Biosciences by 3.4% during the second quarter. TD Asset Management Inc now owns 164,472 shares of the company’s stock valued at $1,130,000 after purchasing an additional 5,350 shares during the last quarter. Quest Partners LLC grew its stake in shares of IGM Biosciences by 71.4% in the 2nd quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock worth $82,000 after buying an additional 4,961 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of IGM Biosciences by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 53,980 shares of the company’s stock worth $371,000 after buying an additional 4,427 shares during the last quarter. Hedge funds and other institutional investors own 42.79% of the company’s stock.

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.