IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Misbah Tahir Sells 1,570 Shares

IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Misbah Tahir sold 1,570 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $7.58, for a total transaction of $11,900.60. Following the transaction, the chief financial officer now directly owns 88,848 shares in the company, valued at $673,467.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

IGM Biosciences Stock Performance

NASDAQ IGMS opened at $7.24 on Wednesday. IGM Biosciences, Inc. has a 52-week low of $3.81 and a 52-week high of $17.70. The company has a 50-day simple moving average of $8.75 and a 200 day simple moving average of $9.86.

IGM Biosciences (NASDAQ:IGMS) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.01. IGM Biosciences had a negative net margin of 11,255.25% and a negative return on equity of 108.07%. The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.71 million. As a group, analysts anticipate that IGM Biosciences, Inc. will post -2.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on IGMS. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of IGM Biosciences in a research report on Thursday, May 9th. HC Wainwright reissued a “neutral” rating and set a $12.00 price target on shares of IGM Biosciences in a research report on Friday, May 24th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.89.

Institutional Trading of IGM Biosciences

A number of large investors have recently added to or reduced their stakes in IGMS. Price T Rowe Associates Inc. MD increased its stake in shares of IGM Biosciences by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,888,023 shares of the company’s stock worth $37,520,000 after purchasing an additional 628,001 shares in the last quarter. Baker BROS. Advisors LP increased its stake in shares of IGM Biosciences by 10.8% in the first quarter. Baker BROS. Advisors LP now owns 4,088,322 shares of the company’s stock worth $39,452,000 after purchasing an additional 397,311 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of IGM Biosciences in the third quarter worth about $1,038,000. Redmile Group LLC increased its stake in shares of IGM Biosciences by 3.4% in the first quarter. Redmile Group LLC now owns 3,072,478 shares of the company’s stock worth $29,649,000 after purchasing an additional 100,936 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of IGM Biosciences in the first quarter worth about $758,000. Hedge funds and other institutional investors own 42.79% of the company’s stock.

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.