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 the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.48, for a total transaction of $12,775.84. Following the completion of the transaction, the chief executive officer now directly owns 347,032 shares in the company, valued at $2,595,799.36. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

IGM Biosciences Stock Down 0.7 %

Shares of IGMS opened at $7.05 on Friday. The business’s fifty day moving average is $12.22 and its 200 day moving average is $11.07. IGM Biosciences, Inc. has a 12-month low of $6.17 and a 12-month high of $22.50. The stock has a market cap of $419.22 million, a P/E ratio of -1.94 and a beta of 0.08.

IGM Biosciences (NASDAQ:IGMS) last issued 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 business had revenue of $0.52 million for the quarter, compared to analyst estimates of $0.23 million. On average, analysts expect that IGM Biosciences, Inc. will post -3.33 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IGMS. HC Wainwright cut their price target on shares of IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. BMO Capital Markets started coverage on IGM Biosciences in a research note on Friday, December 6th. They issued an “outperform” rating and a $21.00 price objective for the company. Truist Financial lowered shares of IGM Biosciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $24.00 to $12.00 in a report on Tuesday, October 1st. Stifel Nicolaus lifted their price target on shares of IGM Biosciences from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Guggenheim cut their target price on IGM Biosciences from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.75.

Institutional Investors Weigh In On IGM Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Management LLC purchased a new stake in shares of IGM Biosciences in the third quarter valued at about $149,000. Quest Partners LLC grew its stake in IGM Biosciences by 71.4% in the 2nd quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock valued at $82,000 after purchasing an additional 4,961 shares during the period. AQR Capital Management LLC bought a new stake in IGM Biosciences in the second quarter worth about $84,000. XTX Topco Ltd raised its holdings in shares of IGM Biosciences by 70.9% in the 2nd quarter. XTX Topco Ltd now owns 20,408 shares of the company’s stock worth $140,000 after purchasing an additional 8,467 shares during the period. Finally, Barclays PLC increased its stake in shares of IGM Biosciences by 48.4% in the third quarter. Barclays PLC now owns 21,554 shares of the company’s stock worth $356,000 after purchasing an additional 7,027 shares in the last quarter. 42.79% of the stock is owned by hedge funds and other institutional investors.

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.