Misbah Tahir Sells 1,487 Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) Stock

IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Misbah Tahir sold 1,487 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $11.54, for a total transaction of $17,159.98. Following the transaction, the chief financial officer now owns 122,694 shares in the company, valued at approximately $1,415,888.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

IGM Biosciences Stock Down 5.8 %

Shares of IGMS stock opened at $16.65 on Thursday. IGM Biosciences, Inc. has a 12 month low of $3.81 and a 12 month high of $22.50. The firm has a market cap of $982.75 million, a PE ratio of -3.86 and a beta of 0.19. The stock has a 50 day moving average of $10.64 and a 200-day moving average of $9.44.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IGMS. Price T Rowe Associates Inc. MD increased its stake in 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 acquiring an additional 628,001 shares during the period. Baker BROS. Advisors LP grew its holdings in shares of IGM Biosciences by 10.8% during the 1st 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. Redmile Group LLC increased its position 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 in the first quarter valued at $758,000. Finally, Pennant Investors LP bought a new position in IGM Biosciences in the fourth quarter worth $539,000. Institutional investors and hedge funds 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.