IGM Biosciences, Inc. (NASDAQ:IGMS – Get Free Report) 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 – Get Free Report) 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
Get Our Latest Analysis on IGMS
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.
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