Barclays PLC Buys 7,027 Shares of IGM Biosciences, Inc. (NASDAQ:IGMS)

Barclays PLC increased its position in IGM Biosciences, Inc. (NASDAQ:IGMS) by 48.4% during 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 period. Barclays PLC’s holdings in IGM Biosciences were worth $356,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MetLife Investment Management LLC bought a new position in shares of IGM Biosciences during the third quarter valued at $149,000. AQR Capital Management LLC purchased a new position in shares of IGM Biosciences during the second quarter valued at approximately $84,000. XTX Topco Ltd lifted its position in IGM Biosciences by 70.9% during the second 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. Rhumbline Advisers boosted its holdings in IGM Biosciences by 13.1% in 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 last quarter. Finally, Point72 Asset Management L.P. bought a new stake in IGM Biosciences in the 2nd quarter worth approximately $187,000. 42.79% of the stock is owned by hedge funds and other institutional investors.

IGM Biosciences Stock Down 3.3 %

Shares of IGM Biosciences stock opened at $1.77 on Monday. The company has a 50 day moving average price of $7.65 and a 200 day moving average price of $10.75. The firm has a market capitalization of $105.24 million, a P/E ratio of -0.49 and a beta of 0.11. IGM Biosciences, Inc. has a 52 week low of $1.59 and a 52 week high of $22.50.

IGM Biosciences (NASDAQ:IGMS) last released its earnings results on Friday, November 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.19). The firm had revenue of $0.52 million during the quarter, compared to analyst estimates 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, research analysts anticipate that IGM Biosciences, Inc. will post -3.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on IGMS. BMO Capital Markets reissued a “market perform” rating and issued a $2.00 target price (down from $21.00) on shares of IGM Biosciences in a research report on Friday, January 10th. Stifel Nicolaus downgraded shares of IGM Biosciences from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $27.00 to $2.50 in a report on Friday, January 10th. JPMorgan Chase & Co. raised shares of IGM Biosciences from an “underweight” rating to a “neutral” rating in a report on Monday, January 13th. Royal Bank of Canada cut shares of IGM Biosciences from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $20.00 to $1.50 in a research note on Friday, January 10th. Finally, Guggenheim cut IGM Biosciences from a “buy” rating to a “neutral” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.50.

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.