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

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) have been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.75.

IGMS has been the topic of several research reports. Guggenheim cut their price objective on IGM Biosciences from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered IGM Biosciences from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $12.00 to $9.00 in a research report on Tuesday, October 1st. HC Wainwright decreased their price target on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada lifted their price objective on shares of IGM Biosciences from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Truist Financial downgraded shares of IGM Biosciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $24.00 to $12.00 in a research note on Tuesday, October 1st.

Hedge Funds Weigh In On IGM Biosciences

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new stake in IGM Biosciences during the second quarter valued at approximately $84,000. Marshall Wace LLP raised its position in shares of IGM Biosciences by 51.6% during the 2nd quarter. Marshall Wace LLP now owns 107,267 shares of the company’s stock valued at $737,000 after acquiring an additional 36,491 shares in the last quarter. TD Asset Management Inc lifted 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 worth $1,130,000 after purchasing an additional 5,350 shares during the last quarter. Quest Partners LLC boosted its holdings in IGM Biosciences by 71.4% in the second quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock worth $82,000 after purchasing an additional 4,961 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of IGM Biosciences by 8.9% during the second quarter. Bank of New York Mellon Corp now owns 53,980 shares of the company’s stock worth $371,000 after purchasing an additional 4,427 shares during the period. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Stock Performance

IGMS opened at $7.17 on Friday. IGM Biosciences has a 1 year low of $5.90 and a 1 year high of $22.50. The firm has a 50 day moving average price of $12.75 and a 200 day moving average price of $11.13. The company has a market cap of $426.36 million, a PE ratio of -1.97 and a beta of 0.08.

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 the consensus estimate of ($0.82) by ($0.19). The business had revenue of $0.52 million during the quarter, compared to analyst estimates of $0.23 million. IGM Biosciences had a negative return on equity of 155.42% and a negative net margin of 7,534.03%. On average, sell-side analysts predict that IGM Biosciences will post -3.33 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.