IGM Biosciences, Inc. (NASDAQ:IGMS) Receives $17.44 Consensus PT from Analysts

IGM Biosciences, Inc. (NASDAQ:IGMS) has received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $17.44.

Several analysts recently weighed in on the company. HC Wainwright restated a “neutral” rating and issued a $12.00 price target on shares of IGM Biosciences in a research note on Thursday, April 18th. Royal Bank of Canada upgraded IGM Biosciences from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $9.00 to $21.00 in a report on Friday, February 9th.

IGM Biosciences Price Performance

NASDAQ:IGMS opened at $10.03 on Friday. The firm’s 50-day moving average price is $9.80 and its 200-day moving average price is $9.05. The company has a market capitalization of $589.66 million, a PE ratio of -2.09 and a beta of 0.27. IGM Biosciences has a 1-year low of $3.81 and a 1-year high of $17.70.

IGM Biosciences (NASDAQ:IGMS) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.05. IGM Biosciences had a negative net margin of 11,568.83% and a negative return on equity of 103.20%. The business had revenue of $0.65 million for the quarter, compared to analysts’ expectations of $0.95 million. Equities analysts anticipate that IGM Biosciences will post -3.23 EPS for the current fiscal year.

Insider Activity

In related news, Director Bros. Advisors Lp Baker bought 270,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was acquired at an average price of $8.26 per share, with a total value of $2,230,200.00. Following the transaction, the director now owns 3,638,533 shares in the company, valued at approximately $30,054,282.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Bros. Advisors Lp Baker bought 270,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average cost of $8.26 per share, with a total value of $2,230,200.00. Following the completion of the transaction, the director now owns 3,638,533 shares of the company’s stock, valued at approximately $30,054,282.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Misbah Tahir sold 2,897 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $9.88, for a total value of $28,622.36. Following the sale, the chief financial officer now owns 92,961 shares of the company’s stock, valued at $918,454.68. The disclosure for this sale can be found here. Insiders sold 8,191 shares of company stock valued at $80,927 over the last three months. Insiders own 56.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc grew its holdings in IGM Biosciences by 100.0% during the third quarter. TD Asset Management Inc now owns 83,452 shares of the company’s stock valued at $697,000 after purchasing an additional 41,726 shares during the period. Rhenman & Partners Asset Management AB boosted its position in shares of IGM Biosciences by 275.0% in the third quarter. Rhenman & Partners Asset Management AB now owns 750,000 shares of the company’s stock worth $6,262,000 after purchasing an additional 550,000 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of IGM Biosciences during the 3rd quarter valued at $50,000. Pale Fire Capital SE purchased a new stake in shares of IGM Biosciences during the third quarter worth about $105,000. Finally, GSA Capital Partners LLP raised its stake in IGM Biosciences by 24.7% during the 3rd quarter. GSA Capital Partners LLP now owns 133,276 shares of the company’s stock valued at $1,113,000 after purchasing an additional 26,358 shares during the period. 42.79% of the stock is currently owned by institutional investors.

About IGM Biosciences

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.