TD Asset Management Inc Grows Stock Holdings in IGM Biosciences, Inc. (NASDAQ:IGMS)

TD Asset Management Inc lifted its position in IGM Biosciences, Inc. (NASDAQ:IGMS) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 164,472 shares of the company’s stock after buying an additional 5,350 shares during the period. TD Asset Management Inc owned approximately 0.28% of IGM Biosciences worth $1,130,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Panagora Asset Management Inc. acquired a new position in shares of IGM Biosciences during the fourth quarter worth $252,000. Pennant Investors LP purchased a new stake in IGM Biosciences in the fourth quarter valued at about $539,000. Susquehanna Fundamental Investments LLC acquired a new stake in IGM Biosciences in the first quarter worth about $268,000. EntryPoint Capital LLC purchased a new stake in shares of IGM Biosciences during the first quarter worth about $152,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of IGM Biosciences by 19.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,888,023 shares of the company’s stock valued at $37,520,000 after acquiring an additional 628,001 shares in the last quarter. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Stock Up 8.0 %

Shares of IGMS stock opened at $12.30 on Friday. IGM Biosciences, Inc. has a 52-week low of $3.81 and a 52-week high of $17.70. The stock has a market cap of $726.00 million, a PE ratio of -2.85 and a beta of 0.19. The business has a 50-day simple moving average of $10.06 and a 200-day simple moving average of $9.37.

IGM Biosciences (NASDAQ:IGMS) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.97). The company had revenue of $1.25 million during the quarter, compared to analyst estimates of $51.75 million. IGM Biosciences had a negative net margin of 7,571.35% and a negative return on equity of 119.02%. Sell-side analysts anticipate that IGM Biosciences, Inc. will post -3.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IGM Biosciences news, Director Julie Hambleton sold 15,132 shares of IGM Biosciences stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $14.00, for a total value of $211,848.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $28,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 57.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

IGMS has been the subject of a number of recent analyst reports. HC Wainwright lowered their target price on shares of IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on shares of IGM Biosciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Truist Financial cut their target price on IGM Biosciences from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Wedbush reaffirmed an “outperform” rating and set a $25.00 price target (up previously from $20.00) on shares of IGM Biosciences in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of IGM Biosciences in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, IGM Biosciences has a consensus rating of “Moderate Buy” and an average price target of $16.63.

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.