Mary Beth Harler Sells 1,708 Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) Stock

IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Mary Beth Harler sold 1,708 shares of IGM Biosciences stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.48, for a total transaction of $12,775.84. Following the transaction, the chief executive officer now directly owns 347,032 shares in the company, valued at approximately $2,595,799.36. This represents a 0.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

IGM Biosciences Price Performance

Shares of IGMS stock opened at $7.10 on Thursday. The stock has a market capitalization of $422.19 million, a price-to-earnings ratio of -1.95 and a beta of 0.08. The company’s fifty day simple moving average is $12.35 and its two-hundred day simple moving average is $11.10. IGM Biosciences, Inc. has a 1 year low of $6.17 and a 1 year high of $22.50.

IGM Biosciences (NASDAQ:IGMS) last released its quarterly earnings data on Friday, November 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.19). IGM Biosciences had a negative net margin of 7,534.03% and a negative return on equity of 155.42%. The company had revenue of $0.52 million for the quarter, compared to the consensus estimate of $0.23 million. Equities research analysts anticipate that IGM Biosciences, Inc. will post -3.33 EPS for the current year.

Hedge Funds Weigh In On IGM Biosciences

A number of large investors have recently modified their holdings of IGMS. State Street Corp lifted its stake in IGM Biosciences by 2.7% in the 3rd quarter. State Street Corp now owns 469,790 shares of the company’s stock worth $7,770,000 after purchasing an additional 12,174 shares in the last quarter. Geode Capital Management LLC raised its position in shares of IGM Biosciences by 7.6% in the third quarter. Geode Capital Management LLC now owns 395,799 shares of the company’s stock worth $6,548,000 after buying an additional 28,118 shares in the last quarter. TD Asset Management Inc boosted its stake in IGM Biosciences by 3.4% during the second quarter. TD Asset Management Inc now owns 164,472 shares of the company’s stock valued at $1,130,000 after buying an additional 5,350 shares during the period. Charles Schwab Investment Management Inc. grew its position in IGM Biosciences by 12.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 148,402 shares of the company’s stock worth $2,455,000 after buying an additional 16,072 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in IGM Biosciences by 126.0% in the 2nd quarter. Renaissance Technologies LLC now owns 108,693 shares of the company’s stock worth $747,000 after acquiring an additional 60,593 shares during the last quarter. 42.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IGMS has been the topic of several research analyst reports. JPMorgan Chase & Co. cut IGM Biosciences from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $12.00 to $9.00 in a research report on Tuesday, October 1st. Stifel Nicolaus increased their price target on shares of IGM Biosciences from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their price objective on shares of IGM Biosciences from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Guggenheim reduced their target price on shares of IGM Biosciences from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Wedbush lowered their price target on shares of IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.75.

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.