IGM Biosciences (NASDAQ:IGMS) Sees Strong Trading Volume

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS – Get Rating) saw unusually-strong trading volume on Friday . Approximately 181,624 shares were traded during trading, an increase of 6% from the previous session’s volume of 171,431 shares.The stock last traded at $17.91 and had previously closed at $18.10.

IGM Biosciences Price Performance

The stock has a fifty day moving average of $22.00 and a 200 day moving average of $20.66. The firm has a market capitalization of $756.38 million, a P/E ratio of -3.11 and a beta of -0.15.

Insider Buying and Selling at IGM Biosciences

In other IGM Biosciences news, CFO Misbah Tahir sold 3,801 shares of the business’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $20.00, for a total value of $76,020.00. Following the sale, the chief financial officer now directly owns 27,090 shares in the company, valued at $541,800. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other IGM Biosciences news, insider Chris H. Takimoto sold 1,768 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $18.73, for a total value of $33,114.64. Following the sale, the insider now directly owns 28,789 shares in the company, valued at $539,217.97. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Misbah Tahir sold 3,801 shares of the business’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $20.00, for a total value of $76,020.00. Following the completion of the sale, the chief financial officer now owns 27,090 shares in the company, valued at $541,800. The disclosure for this sale can be found here. Corporate insiders own 55.96% of the company’s stock.

Institutional Trading of IGM Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ensign Peak Advisors Inc raised its stake in shares of IGM Biosciences by 27.7% during the 3rd quarter. Ensign Peak Advisors Inc now owns 1,890 shares of the company’s stock valued at $43,000 after purchasing an additional 410 shares during the period. Captrust Financial Advisors bought a new stake in shares of IGM Biosciences during the 2nd quarter valued at $50,000. Allspring Global Investments Holdings LLC bought a new stake in shares of IGM Biosciences during the 3rd quarter valued at $62,000. US Bancorp DE raised its stake in shares of IGM Biosciences by 608.4% during the 1st quarter. US Bancorp DE now owns 2,437 shares of the company’s stock valued at $65,000 after purchasing an additional 2,093 shares during the period. Finally, UBS Group AG raised its stake in shares of IGM Biosciences by 1,549.2% during the 4th quarter. UBS Group AG now owns 3,958 shares of the company’s stock valued at $67,000 after purchasing an additional 3,718 shares during the period. 41.41% of the stock is currently owned by institutional investors.

IGM Biosciences Company Profile

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IGM Biosciences, Inc, a biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of cancer, infectious diseases, and autoimmune and inflammatory diseases. The company's lead product candidate is IGM-2323, a bispecific IgM antibody that is in Phase 2 clinical trials to treat patients with relapsed/refractory B cell Non-Hodgkin's lymphoma (NHL).