IGM Biosciences, Inc. (NASDAQ:IGMS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $17.89.

Several equities analysts have weighed in on the company. HC Wainwright reissued a “neutral” rating and issued a $12.00 target price on shares of IGM Biosciences in a research note on Friday, May 24th. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of IGM Biosciences in a research note on Thursday, May 9th.

IGM Biosciences Stock Up 3.9 %

Shares of IGMS opened at $6.87 on Friday. IGM Biosciences has a 12-month low of $3.81 and a 12-month high of $17.70. The firm has a market capitalization of $405.47 million, a PE ratio of -1.59 and a beta of 0.23. The stock’s fifty day simple moving average is $8.52 and its 200-day simple moving average is $9.84.

IGM Biosciences (NASDAQ:IGMS) last released its earnings results on Wednesday, May 8th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.01. IGM Biosciences had a negative return on equity of 108.07% and a negative net margin of 11,255.25%. The firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.71 million. Analysts anticipate that IGM Biosciences will post -2.31 EPS for the current year.

Insiders Place Their Bets

In other IGM Biosciences news, CEO Fred Schwarzer sold 4,164 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $7.58, for a total value of $31,563.12. Following the completion of the sale, the chief executive officer now directly owns 254,070 shares in the company, valued at $1,925,850.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 6,229 shares of company stock worth $47,216 over the last ninety days. 57.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of IGM Biosciences by 7,258.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,900 shares of the company’s stock worth $32,000 after buying an additional 3,847 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of IGM Biosciences during the third quarter worth about $50,000. Pale Fire Capital SE bought a new position in shares of IGM Biosciences during the third quarter worth about $105,000. EntryPoint Capital LLC bought a new position in shares of IGM Biosciences during the first quarter worth about $152,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of IGM Biosciences by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 19,048 shares of the company’s stock worth $158,000 after buying an additional 4,830 shares in the last quarter. 42.79% of the stock is currently 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 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.