IGM Biosciences (NASDAQ:IGMS) Sees Large Volume Increase

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS – Get Rating) saw unusually-high trading volume on Friday . Approximately 181,624 shares traded hands during trading, an increase of 6% from the previous session’s volume of 171,431 shares.The stock last traded at $17.91 and had previously closed at $18.10.

IGM Biosciences Stock Performance

The business has a 50-day simple moving average of $22.00 and a 200 day simple moving average of $20.66. The firm has a market cap of $756.38 million, a P/E ratio of -3.11 and a beta of -0.15.

Insider Buying and Selling at IGM Biosciences

In other IGM Biosciences news, insider Chris H. Takimoto sold 1,768 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $18.73, for a total transaction of $33,114.64. Following the completion of the transaction, the insider now owns 28,789 shares of the company’s stock, valued at approximately $539,217.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Chris H. Takimoto sold 1,768 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $18.73, for a total value of $33,114.64. Following the completion of the transaction, the insider now owns 28,789 shares of the company’s stock, valued at approximately $539,217.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Misbah Tahir sold 3,801 shares of the stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $20.00, for a total value of $76,020.00. Following the completion of the transaction, the chief financial officer now directly owns 27,090 shares of the company’s stock, valued at approximately $541,800. The disclosure for this sale can be found here. 55.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IGMS. Swiss National Bank raised its position in shares of IGM Biosciences by 8.8% in the 1st quarter. Swiss National Bank now owns 18,500 shares of the company’s stock worth $495,000 after acquiring an additional 1,500 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of IGM Biosciences by 54.7% in the 1st quarter. JPMorgan Chase & Co. now owns 11,632 shares of the company’s stock worth $312,000 after acquiring an additional 4,115 shares in the last quarter. Raymond James & Associates raised its position in shares of IGM Biosciences by 90.8% in the 1st quarter. Raymond James & Associates now owns 40,067 shares of the company’s stock worth $1,071,000 after acquiring an additional 19,067 shares in the last quarter. US Bancorp DE increased its position in IGM Biosciences by 608.4% during the 1st quarter. US Bancorp DE now owns 2,437 shares of the company’s stock valued at $65,000 after buying an additional 2,093 shares in the last quarter. Finally, Rhumbline Advisers increased its position in IGM Biosciences by 16.5% during the 1st quarter. Rhumbline Advisers now owns 9,222 shares of the company’s stock valued at $247,000 after buying an additional 1,308 shares in the last quarter. Institutional investors own 41.41% of the company’s stock.

About IGM Biosciences

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IGM Biosciences, Inc, a biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of cancer, infectious diseases, and autoimmune and inflammatory diseases. The company's lead product candidate is IGM-2323, a bispecific IgM antibody that is in Phase 2 clinical trials to treat patients with relapsed/refractory B cell Non-Hodgkin's lymphoma (NHL).