IGM Biosciences, Inc. (NASDAQ:IGMS) Receives Consensus Rating of “Moderate Buy” from Analysts

IGM Biosciences, Inc. (NASDAQ:IGMS) has earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $17.44.

IGMS has been the topic of several recent analyst reports. Royal Bank of Canada raised IGM Biosciences from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $9.00 to $21.00 in a report on Friday, February 9th. HC Wainwright reissued a “neutral” rating and issued a $12.00 target price on shares of IGM Biosciences in a report on Thursday, April 18th.

Insider Buying and Selling

In other IGM Biosciences news, Director Bros. Advisors Lp Baker bought 270,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $8.26 per share, for a total transaction of $2,230,200.00. Following the transaction, the director now owns 3,638,533 shares of the company’s stock, valued at approximately $30,054,282.58. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the chief executive officer now owns 220,833 shares in the company, valued at approximately $2,181,830.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker bought 270,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average price of $8.26 per share, with a total value of $2,230,200.00. Following the transaction, the director now directly owns 3,638,533 shares in the company, valued at approximately $30,054,282.58. The disclosure for this purchase can be found here. Insiders sold 8,191 shares of company stock worth $80,927 in the last quarter. 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 business. Nisa Investment Advisors LLC increased its position in shares of IGM Biosciences by 7,258.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,900 shares of the company’s stock valued at $32,000 after buying an additional 3,847 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of IGM Biosciences in the 3rd quarter valued at $50,000. Pale Fire Capital SE bought a new stake in shares of IGM Biosciences in the 3rd quarter valued at $105,000. Exchange Traded Concepts LLC increased its position in shares of IGM Biosciences by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 19,048 shares of the company’s stock valued at $158,000 after buying an additional 4,830 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in shares of IGM Biosciences in the 4th quarter valued at $252,000. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Trading Up 6.8 %

NASDAQ IGMS opened at $10.07 on Friday. The stock’s 50 day moving average is $9.93 and its two-hundred day moving average is $8.91. The company has a market capitalization of $592.02 million, a price-to-earnings ratio of -2.09 and a beta of 0.27. IGM Biosciences has a 1-year low of $3.81 and a 1-year high of $17.70.

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

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.