Susquehanna Fundamental Investments LLC Has $110,000 Holdings in IGM Biosciences, Inc. (NASDAQ:IGMS)

Susquehanna Fundamental Investments LLC lowered its position in IGM Biosciences, Inc. (NASDAQ:IGMS) by 42.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 16,028 shares of the company’s stock after selling 11,703 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in IGM Biosciences were worth $110,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of IGMS. Quest Partners LLC raised its stake in IGM Biosciences by 71.4% during the second quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock worth $82,000 after buying an additional 4,961 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of IGM Biosciences in the 2nd quarter valued at about $84,000. XTX Topco Ltd lifted its stake 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 valued at $140,000 after purchasing an additional 8,467 shares during the period. EntryPoint Capital LLC bought a new stake in shares of IGM Biosciences during the 1st quarter valued at about $152,000. Finally, Rhumbline Advisers grew its stake in IGM Biosciences by 13.1% during the second quarter. Rhumbline Advisers now owns 22,726 shares of the company’s stock worth $156,000 after purchasing an additional 2,635 shares during the period. 42.79% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Julie Hambleton sold 15,132 shares of IGM Biosciences stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $14.00, for a total transaction of $211,848.00. Following the sale, the director now directly owns 2,000 shares in the company, valued at approximately $28,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Julie Hambleton sold 15,132 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $14.00, for a total transaction of $211,848.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $28,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fred Schwarzer sold 3,946 shares of IGM Biosciences stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $11.54, for a total transaction of $45,536.84. Following the completion of the sale, the chief executive officer now directly owns 250,124 shares in the company, valued at approximately $2,886,430.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,034 shares of company stock valued at $279,957 over the last three months. Corporate insiders own 57.00% of the company’s stock.

Analysts Set New Price Targets

IGMS has been the topic of a number of research analyst reports. Royal Bank of Canada cut their price target on IGM Biosciences from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Guggenheim reduced their price target on shares of IGM Biosciences from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. HC Wainwright dropped their price objective on shares of IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Truist Financial downgraded IGM Biosciences from a “buy” rating to a “hold” rating and reduced their target price for the company from $24.00 to $12.00 in a research note on Tuesday, October 1st. Finally, Wedbush dropped their price target on IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.67.

IGM Biosciences Stock Up 3.4 %

Shares of NASDAQ:IGMS opened at $15.41 on Friday. The stock has a market cap of $909.56 million, a price-to-earnings ratio of -3.58 and a beta of 0.21. The business’s 50 day moving average is $11.83 and its 200 day moving average is $9.85. IGM Biosciences, Inc. has a 12-month low of $3.81 and a 12-month high of $22.50.

IGM Biosciences (NASDAQ:IGMS) last released its quarterly 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 firm had revenue of $1.25 million for the quarter, compared to analysts’ expectations of $51.75 million. IGM Biosciences had a negative return on equity of 119.02% and a negative net margin of 7,571.35%. As a group, equities research analysts expect that IGM Biosciences, Inc. will post -3.13 earnings per share for the current year.

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.