30,148 Shares in IGM Biosciences, Inc. (NASDAQ:IGMS) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new position in shares of IGM Biosciences, Inc. (NASDAQ:IGMS) during the fourth quarter, HoldingsChannel reports. The fund purchased 30,148 shares of the company’s stock, valued at approximately $184,000.

A number of other hedge funds have also bought and sold shares of IGMS. Barclays PLC increased its position in IGM Biosciences by 48.4% during the third quarter. Barclays PLC now owns 21,554 shares of the company’s stock worth $356,000 after acquiring an additional 7,027 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in IGM Biosciences during the fourth quarter worth about $44,000. Charles Schwab Investment Management Inc. grew its stake in IGM Biosciences by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 157,843 shares of the company’s stock worth $964,000 after buying an additional 9,441 shares in the last quarter. Geode Capital Management LLC grew its stake in IGM Biosciences by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 409,133 shares of the company’s stock worth $2,501,000 after buying an additional 13,334 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in IGM Biosciences by 14.0% during the fourth quarter. Renaissance Technologies LLC now owns 75,800 shares of the company’s stock worth $463,000 after buying an additional 9,300 shares in the last quarter. 42.79% of the stock is owned by institutional investors.

IGM Biosciences Stock Up 2.6%

Shares of IGM Biosciences stock opened at $1.18 on Monday. The company has a market capitalization of $70.53 million, a price-to-earnings ratio of -0.32 and a beta of 0.61. IGM Biosciences, Inc. has a 12-month low of $0.92 and a 12-month high of $22.50. The firm’s 50-day moving average price is $1.22 and its two-hundred day moving average price is $4.11.

IGM Biosciences (NASDAQ:IGMS) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.45). The firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $4.25 million. IGM Biosciences had a negative return on equity of 155.42% and a negative net margin of 7,534.03%. On average, sell-side analysts expect that IGM Biosciences, Inc. will post -3.35 earnings per share for the current year.

IGM Biosciences 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.