Fred Schwarzer Sells 3,946 Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) Stock

IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Fred Schwarzer sold 3,946 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $11.54, for a total value of $45,536.84. Following the sale, the chief executive officer now directly owns 250,124 shares in the company, valued at $2,886,430.96. The transaction was disclosed in a filing with the SEC, which is available at this link.

IGM Biosciences Price Performance

Shares of NASDAQ IGMS opened at $16.65 on Thursday. IGM Biosciences, Inc. has a 1-year low of $3.81 and a 1-year high of $22.50. The business’s fifty day moving average price is $10.64 and its two-hundred day moving average price is $9.44. The firm has a market capitalization of $982.75 million, a PE ratio of -3.86 and a beta of 0.19.

IGM Biosciences (NASDAQ:IGMS) last issued its earnings results on Wednesday, August 14th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.97). The company had revenue of $1.25 million during the quarter, compared to analyst estimates of $51.75 million. IGM Biosciences had a negative return on equity of 119.02% and a negative net margin of 7,571.35%. Equities research analysts expect that IGM Biosciences, Inc. will post -3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IGMS has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on IGM Biosciences from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. HC Wainwright dropped their price target on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Wedbush reissued an “outperform” rating and set a $25.00 price target (up from $20.00) on shares of IGM Biosciences in a research report on Wednesday, August 14th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price target on shares of IGM Biosciences in a research report on Thursday, August 15th. Finally, Truist Financial dropped their price target on IGM Biosciences from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, IGM Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.63.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IGMS. Price T Rowe Associates Inc. MD increased its holdings in shares of IGM Biosciences by 19.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,888,023 shares of the company’s stock valued at $37,520,000 after purchasing an additional 628,001 shares during the period. Baker BROS. Advisors LP increased its holdings in shares of IGM Biosciences by 10.8% during the first quarter. Baker BROS. Advisors LP now owns 4,088,322 shares of the company’s stock valued at $39,452,000 after purchasing an additional 397,311 shares during the period. Redmile Group LLC increased its holdings in shares of IGM Biosciences by 3.4% during the first quarter. Redmile Group LLC now owns 3,072,478 shares of the company’s stock valued at $29,649,000 after purchasing an additional 100,936 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of IGM Biosciences during the first quarter valued at $758,000. Finally, Pennant Investors LP acquired a new position in shares of IGM Biosciences during the fourth quarter valued at $539,000. 42.79% of the stock is owned by institutional investors and hedge funds.

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.