IGM Biosciences (NASDAQ:IGMS) Rating Reiterated by HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of IGM Biosciences (NASDAQ:IGMS) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $12.00 target price on the stock.

Separately, Royal Bank of Canada raised shares of IGM Biosciences from a sector perform rating to an outperform rating and upped their price objective for the company from $9.00 to $21.00 in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $17.44.

IGM Biosciences Price Performance

IGMS opened at $7.41 on Thursday. IGM Biosciences has a fifty-two week low of $3.81 and a fifty-two week high of $17.70. The company’s 50 day moving average price is $11.33 and its two-hundred day moving average price is $8.72.

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

Insider Activity at IGM Biosciences

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

Institutional Trading of IGM Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Ensign Peak Advisors Inc grew its position in IGM Biosciences by 27.7% during the third quarter. Ensign Peak Advisors Inc now owns 1,890 shares of the company’s stock valued at $43,000 after buying an additional 410 shares during the period. Cubist Systematic Strategies LLC bought a new position in IGM Biosciences during the first quarter valued at about $30,000. US Bancorp DE grew its position in IGM Biosciences by 608.4% during the first 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 during the period. Captrust Financial Advisors bought a new position in IGM Biosciences during the second quarter valued at about $50,000. Finally, Lazard Asset Management LLC bought a new position in IGM Biosciences during the second quarter valued at about $26,000. Hedge funds and other institutional investors own 42.79% of the company’s stock.

About IGM Biosciences

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.