Stifel Nicolaus Lowers IGM Biosciences (NASDAQ:IGMS) Price Target to $25.00

IGM Biosciences (NASDAQ:IGMS) had its price target trimmed by Stifel Nicolaus from $26.00 to $25.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada lowered their price target on IGM Biosciences from $11.00 to $8.00 and set a sector perform rating for the company in a research note on Tuesday. Robert W. Baird lowered their price target on IGM Biosciences from $31.00 to $17.00 in a research note on Monday, August 7th. Needham & Company LLC reaffirmed a hold rating on shares of IGM Biosciences in a research note on Monday, August 7th. HC Wainwright lowered their price target on IGM Biosciences from $22.00 to $17.00 and set a buy rating for the company in a research note on Monday, August 7th. Finally, Morgan Stanley lowered their price target on IGM Biosciences from $20.00 to $15.00 and set an equal weight rating for the company in a research note on Monday, August 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $17.89.

IGM Biosciences Trading Up 4.3 %

IGM Biosciences stock opened at $6.01 on Tuesday. IGM Biosciences has a 1 year low of $3.81 and a 1 year high of $27.92. The company has a market cap of $350.80 million, a PE ratio of -1.20 and a beta of -0.17. The company’s 50-day moving average is $5.75 and its two-hundred day moving average is $8.45.

Institutional Trading of IGM Biosciences

Large investors have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new stake in IGM Biosciences during the 2nd quarter worth approximately $26,000. Cubist Systematic Strategies LLC bought a new position in shares of IGM Biosciences during the 1st quarter worth approximately $30,000. Citigroup Inc. grew its stake in shares of IGM Biosciences by 370.7% during the 2nd quarter. Citigroup Inc. now owns 4,382 shares of the company’s stock worth $40,000 after acquiring an additional 3,451 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in shares of IGM Biosciences by 27.7% during the 3rd quarter. Ensign Peak Advisors Inc now owns 1,890 shares of the company’s stock worth $43,000 after acquiring an additional 410 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of IGM Biosciences by 119.3% during the 2nd quarter. Wells Fargo & Company MN now owns 4,648 shares of the company’s stock worth $43,000 after acquiring an additional 2,529 shares in the last quarter. 56.21% of the stock is owned by institutional investors.

IGM Biosciences Company Profile

IGM Biosciences, Inc, a clinical-stage biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of cancer, infectious diseases, and autoimmune and inflammatory diseases. The company's product candidate, including imvotamab (IGM-2323), an IgM-based CD20 x CD3 bispecific antibody T cell engager that is in Phase 2 clinical trials for the treatment of B cell non-Hodgkin's lymphoma (NHL).