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

IGM Biosciences, Inc. (NASDAQ:IGMS) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $17.44.

A number of analysts have commented on IGMS shares. HC Wainwright restated a “neutral” rating and set a $12.00 price target on shares of IGM Biosciences in a research report on Thursday, April 18th. Royal Bank of Canada upgraded IGM Biosciences from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $9.00 to $21.00 in a report on Friday, February 9th.

Insider Activity

In related news, CEO Fred Schwarzer sold 4,765 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $9.88, for a total transaction of $47,078.20. Following the completion of the sale, the chief executive officer now directly owns 220,833 shares of the company’s stock, valued at approximately $2,181,830.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other IGM Biosciences news, CEO Fred Schwarzer sold 4,765 shares of IGM Biosciences stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $9.88, for a total value of $47,078.20. Following the sale, the chief executive officer now owns 220,833 shares of the company’s stock, valued at approximately $2,181,830.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Misbah Tahir sold 2,897 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $9.88, for a total value of $28,622.36. Following the completion of the sale, the chief financial officer now owns 92,961 shares in the company, valued at $918,454.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,191 shares of company stock worth $80,927. Insiders own 56.91% of the company’s stock.

Institutional Trading of IGM Biosciences

Institutional investors have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC acquired a new stake in IGM Biosciences in the 1st quarter valued at $268,000. Pennant Investors LP bought a new stake in IGM Biosciences during the fourth quarter worth about $539,000. Panagora Asset Management Inc. acquired a new position in IGM Biosciences during the fourth quarter valued at approximately $252,000. Nisa Investment Advisors LLC grew its stake in IGM Biosciences by 7,258.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,900 shares of the company’s stock valued at $32,000 after purchasing an additional 3,847 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased 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 purchasing an additional 4,830 shares during the last quarter. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Stock Performance

IGMS opened at $9.34 on Friday. The company has a market capitalization of $549.10 million, a P/E ratio of -1.94 and a beta of 0.27. The company has a 50-day moving average of $9.71 and a 200-day moving average of $9.09. IGM Biosciences has a 1-year low of $3.81 and a 1-year high of $17.70.

IGM Biosciences (NASDAQ:IGMS) last posted its earnings results on Thursday, March 7th. The company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.05. The firm had revenue of $0.65 million during the quarter, compared to analysts’ expectations of $0.95 million. IGM Biosciences had a negative net margin of 11,568.83% and a negative return on equity of 103.20%. As a group, sell-side analysts expect that IGM Biosciences will post -3.23 earnings per share for the current fiscal 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.