IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Mary Beth Harler Sells 1,708 Shares

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

IGM Biosciences Stock Down 5.1 %

Shares of IGMS stock opened at $7.10 on Thursday. The company has a market cap of $422.19 million, a price-to-earnings ratio of -1.95 and a beta of 0.08. The firm has a 50 day moving average of $12.35 and a 200-day moving average of $11.10. IGM Biosciences, Inc. has a 52 week low of $6.17 and a 52 week high of $22.50.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on IGMS shares. BMO Capital Markets initiated coverage on IGM Biosciences in a research note on Friday, December 6th. They set an “outperform” rating and a $21.00 target price for the company. Royal Bank of Canada upped their price objective on shares of IGM Biosciences from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wedbush dropped their price objective on shares of IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. Stifel Nicolaus boosted their target price on shares of IGM Biosciences from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, 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 note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of IGM Biosciences by 2.7% in the 3rd quarter. State Street Corp now owns 469,790 shares of the company’s stock worth $7,770,000 after acquiring an additional 12,174 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of IGM Biosciences by 7.6% in the third quarter. Geode Capital Management LLC now owns 395,799 shares of the company’s stock valued at $6,548,000 after purchasing an additional 28,118 shares in the last quarter. TD Asset Management Inc boosted its position in shares of 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 buying an additional 5,350 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of IGM Biosciences by 12.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 148,402 shares of the company’s stock valued at $2,455,000 after buying an additional 16,072 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in IGM Biosciences by 126.0% during the second quarter. Renaissance Technologies LLC now owns 108,693 shares of the company’s stock worth $747,000 after buying an additional 60,593 shares in the last quarter. 42.79% of the stock is currently owned by institutional investors and hedge funds.

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.