IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Mary Beth Harler Sells 1,708 Shares

IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Mary Beth Harler sold 1,708 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.48, for a total value of $12,775.84. Following the completion of the transaction, the chief executive officer now owns 347,032 shares of the company’s stock, valued at approximately $2,595,799.36. The trade was a 0.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

IGM Biosciences Stock Down 5.1 %

NASDAQ:IGMS traded down $0.38 during trading hours on Wednesday, hitting $7.10. 219,786 shares of the stock traded hands, compared to its average volume of 301,707. The company has a market cap of $422.19 million, a price-to-earnings ratio of -1.95 and a beta of 0.08. IGM Biosciences, Inc. has a 1 year low of $6.17 and a 1 year high of $22.50. The stock has a 50 day moving average price of $12.35 and a 200 day moving average price of $11.10.

IGM Biosciences (NASDAQ:IGMS) last released its earnings results on Friday, November 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.19). The firm had revenue of $0.52 million for the quarter, compared to analysts’ expectations of $0.23 million. IGM Biosciences had a negative net margin of 7,534.03% and a negative return on equity of 155.42%. Equities analysts forecast that IGM Biosciences, Inc. will post -3.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wedbush dropped their price objective on shares of IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. Guggenheim reduced their price objective on IGM Biosciences from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. BMO Capital Markets began coverage on IGM Biosciences in a report on Friday, December 6th. They issued an “outperform” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. downgraded IGM Biosciences from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $12.00 to $9.00 in a report on Tuesday, October 1st. Finally, HC Wainwright cut their price objective on shares of IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, IGM Biosciences currently has an average rating of “Moderate Buy” and an average target price of $17.75.

Hedge Funds Weigh In On IGM Biosciences

Several large investors have recently made changes to their positions in the business. Quest Partners LLC lifted its holdings in shares of IGM Biosciences by 71.4% in the second quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock worth $82,000 after buying an additional 4,961 shares in the last quarter. AQR Capital Management LLC purchased a new stake in IGM Biosciences in the 2nd quarter worth $84,000. XTX Topco Ltd boosted its holdings in shares of IGM Biosciences by 70.9% during the 2nd 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 last quarter. MetLife Investment Management LLC purchased a new position in shares of IGM Biosciences during the third quarter valued at about $149,000. Finally, Rhumbline Advisers increased its holdings in shares of 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. 42.79% of the stock is currently owned by hedge funds and other institutional investors.

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.