Barclays PLC Has $356,000 Stock Holdings in IGM Biosciences, Inc. (NASDAQ:IGMS)

Barclays PLC increased its stake in shares of IGM Biosciences, Inc. (NASDAQ:IGMS) by 48.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,554 shares of the company’s stock after purchasing an additional 7,027 shares during the quarter. Barclays PLC’s holdings in IGM Biosciences were worth $356,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp increased its position in IGM Biosciences by 2.7% during the 3rd quarter. State Street Corp now owns 469,790 shares of the company’s stock worth $7,770,000 after purchasing an additional 12,174 shares in the last quarter. TD Asset Management Inc increased its position in IGM Biosciences by 3.4% during the 2nd 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in IGM Biosciences by 12.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 148,402 shares of the company’s stock worth $2,455,000 after purchasing an additional 16,072 shares in the last quarter. Renaissance Technologies LLC increased its position in IGM Biosciences by 126.0% in the 2nd quarter. Renaissance Technologies LLC now owns 108,693 shares of the company’s stock valued at $747,000 after acquiring an additional 60,593 shares during the period. Finally, Marshall Wace LLP increased its position in IGM Biosciences by 51.6% in 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 during the period. 42.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on IGMS shares. JPMorgan Chase & Co. cut shares of IGM Biosciences from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $12.00 to $9.00 in a research report on Tuesday, October 1st. Royal Bank of Canada upped their price target on shares of IGM Biosciences from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Stifel Nicolaus upped their price target on shares of IGM Biosciences from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wedbush decreased their price target on shares of IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. Finally, BMO Capital Markets started coverage on shares of IGM Biosciences in a research report on Friday, December 6th. They issued an “outperform” rating and a $21.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.75.

IGM Biosciences Stock Performance

NASDAQ:IGMS opened at $6.56 on Friday. The firm’s fifty day moving average is $10.10 and its 200-day moving average is $10.95. IGM Biosciences, Inc. has a 52 week low of $5.79 and a 52 week high of $22.50. The firm has a market cap of $390.08 million, a P/E ratio of -1.80 and a beta of 0.08.

IGM Biosciences (NASDAQ:IGMS) last posted its quarterly earnings data on Friday, November 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.19). The firm had revenue of $0.52 million during the quarter, compared to the consensus estimate of $0.23 million. IGM Biosciences had a negative net margin of 7,534.03% and a negative return on equity of 155.42%. As a group, sell-side analysts anticipate that IGM Biosciences, Inc. will post -3.33 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.