IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Misbah Tahir Sells 1,570 Shares

IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Misbah Tahir sold 1,570 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $7.58, for a total transaction of $11,900.60. Following the sale, the chief financial officer now owns 88,848 shares in the company, valued at approximately $673,467.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

IGM Biosciences Trading Down 1.0 %

IGM Biosciences stock opened at $7.24 on Wednesday. IGM Biosciences, Inc. has a 1 year low of $3.81 and a 1 year high of $17.70. The firm’s 50 day moving average price is $8.75 and its 200-day moving average price is $9.86.

IGM Biosciences (NASDAQ:IGMS) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.01. The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.71 million. IGM Biosciences had a negative net margin of 11,255.25% and a negative return on equity of 108.07%. On average, equities analysts forecast that IGM Biosciences, Inc. will post -2.31 EPS for the current year.

Institutional Investors Weigh In On IGM Biosciences

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its position in IGM Biosciences by 7,258.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,900 shares of the company’s stock worth $32,000 after purchasing an additional 3,847 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in IGM Biosciences in the third quarter worth $50,000. Pale Fire Capital SE bought a new stake in IGM Biosciences in the third quarter worth $105,000. EntryPoint Capital LLC bought a new stake in IGM Biosciences in the first quarter worth $152,000. Finally, Exchange Traded Concepts LLC increased its position in IGM Biosciences by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 19,048 shares of the company’s stock worth $158,000 after purchasing an additional 4,830 shares during the last quarter. Institutional investors own 42.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of IGM Biosciences in a research note on Thursday, May 9th. HC Wainwright restated a “neutral” rating and set a $12.00 target price on shares of IGM Biosciences in a research note on Friday, May 24th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.89.

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.