Analysts Set IGM Biosciences, Inc. (NASDAQ:IGMS) Price Target at $16.63

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) have received a consensus rating of “Hold” from the nine research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.67.

Several analysts have commented on IGMS shares. Royal Bank of Canada lowered their price target on IGM Biosciences from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday. JPMorgan Chase & Co. cut IGM Biosciences from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $12.00 to $9.00 in a report on Tuesday. HC Wainwright decreased their price target on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Guggenheim decreased their price target on IGM Biosciences from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Truist Financial cut IGM Biosciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $24.00 to $12.00 in a report on Tuesday.

Insider Buying and Selling at IGM Biosciences

In related news, CEO Fred Schwarzer sold 3,946 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $11.54, for a total transaction of $45,536.84. Following the sale, the chief executive officer now directly owns 250,124 shares of the company’s stock, valued at approximately $2,886,430.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Julie Hambleton sold 15,132 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $14.00, for a total transaction of $211,848.00. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $28,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Fred Schwarzer sold 3,946 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $11.54, for a total value of $45,536.84. Following the completion of the sale, the chief executive officer now directly owns 250,124 shares in the company, valued at $2,886,430.96. The disclosure for this sale can be found here. Insiders have sold a total of 21,034 shares of company stock valued at $279,957 in the last three months. Corporate insiders own 57.00% of the company’s stock.

Institutional Investors Weigh In On IGM Biosciences

Large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC increased its position in 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 during the period. AQR Capital Management LLC acquired a new stake in IGM Biosciences in the second quarter worth $84,000. EntryPoint Capital LLC acquired a new stake in IGM Biosciences in the first quarter worth $152,000. XTX Topco Ltd increased its position in IGM Biosciences by 70.9% in the second quarter. XTX Topco Ltd now owns 20,408 shares of the company’s stock worth $140,000 after buying an additional 8,467 shares during the period. Finally, Rhumbline Advisers increased its position in 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 buying an additional 2,635 shares during the period. 42.79% of the stock is owned by institutional investors and hedge funds.

IGM Biosciences Trading Up 3.5 %

Shares of IGMS stock opened at $14.90 on Tuesday. The firm has a 50-day moving average price of $11.75 and a 200 day moving average price of $9.82. IGM Biosciences has a twelve month low of $3.81 and a twelve month high of $22.50. The company has a market capitalization of $879.46 million, a price-to-earnings ratio of -3.46 and a beta of 0.21.

IGM Biosciences (NASDAQ:IGMS) last announced its earnings results on Wednesday, August 14th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.97). The firm 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%. As a group, research analysts predict that IGM Biosciences will post -3.13 earnings per share for the current year.

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.