IGM Biosciences, Inc. (NASDAQ:IGMS) Holdings Decreased by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its stake in IGM Biosciences, Inc. (NASDAQ:IGMS) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,754 shares of the company’s stock after selling 5,227 shares during the quarter. GSA Capital Partners LLP owned about 0.10% of IGM Biosciences worth $939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IGMS. Quest Partners LLC lifted 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 acquiring an additional 4,961 shares during the period. AQR Capital Management LLC bought a new stake in IGM Biosciences during the second quarter worth approximately $84,000. XTX Topco Ltd lifted its position in IGM Biosciences by 70.9% in the second quarter. XTX Topco Ltd now owns 20,408 shares of the company’s stock worth $140,000 after purchasing an additional 8,467 shares during the period. EntryPoint Capital LLC bought a new position in IGM Biosciences during the 1st quarter valued at $152,000. Finally, Rhumbline Advisers increased its position in shares of IGM Biosciences by 13.1% during the 2nd quarter. Rhumbline Advisers now owns 22,726 shares of the company’s stock valued at $156,000 after purchasing an additional 2,635 shares during the period. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Price Performance

Shares of IGMS opened at $9.47 on Friday. The company has a 50-day moving average of $14.89 and a two-hundred day moving average of $11.11. The stock has a market cap of $561.76 million, a price-to-earnings ratio of -2.65 and a beta of 0.20. IGM Biosciences, Inc. has a one year low of $4.72 and a one year high of $22.50.

IGM Biosciences (NASDAQ:IGMS) last posted 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 return on equity of 155.42% and a negative net margin of 7,534.03%. 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 -3.17 earnings per share for the current year.

Insider Transactions at IGM Biosciences

In related news, CEO Fred Schwarzer sold 3,946 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $11.54, for a total transaction of $45,536.84. Following the transaction, the chief executive officer now directly owns 250,124 shares of the company’s stock, valued at approximately $2,886,430.96. The trade was a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 5,902 shares of company stock valued at $68,109 over the last quarter. Company insiders own 57.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IGMS. Guggenheim cut their price objective on IGM Biosciences from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. HC Wainwright cut their price target on shares of IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada lifted their price objective on shares of IGM Biosciences from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Truist Financial downgraded shares of IGM Biosciences from a “buy” rating to a “hold” rating and dropped their target price for the stock from $24.00 to $12.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut shares of IGM Biosciences from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $12.00 to $9.00 in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IGM Biosciences has a consensus rating of “Hold” and a consensus target price of $16.13.

IGM Biosciences 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.