Quest Partners LLC Sells 10,268 Shares of IGM Biosciences, Inc. (NASDAQ:IGMS)

Quest Partners LLC lessened its stake in IGM Biosciences, Inc. (NASDAQ:IGMS) by 86.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,645 shares of the company’s stock after selling 10,268 shares during the quarter. Quest Partners LLC’s holdings in IGM Biosciences were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC lifted its position in IGM Biosciences by 126.0% during the 2nd quarter. Renaissance Technologies LLC now owns 108,693 shares of the company’s stock valued at $747,000 after purchasing an additional 60,593 shares during the period. Marshall Wace LLP raised its holdings in IGM Biosciences by 51.6% in the second quarter. Marshall Wace LLP now owns 107,267 shares of the company’s stock worth $737,000 after purchasing an additional 36,491 shares during the period. Bruce & Co. Inc. grew its stake in IGM Biosciences by 53.8% in the second quarter. Bruce & Co. Inc. now owns 100,000 shares of the company’s stock valued at $687,000 after acquiring an additional 35,000 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of IGM Biosciences in the second quarter worth about $187,000. Finally, AQR Capital Management LLC acquired a new stake in shares of IGM Biosciences during the second quarter worth about $84,000. Institutional investors and hedge funds own 42.79% of the company’s stock.

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 dated Friday, September 13th. The shares were sold at an average price of $11.54, for a total transaction of $45,536.84. Following the completion of the sale, the chief executive officer now owns 250,124 shares of the company’s stock, valued at $2,886,430.96. This represents a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 5,902 shares of company stock valued at $68,109 in the last three months. Corporate insiders own 57.00% of the company’s stock.

IGM Biosciences Trading Down 3.7 %

IGM Biosciences stock opened at $10.04 on Monday. The company has a market capitalization of $597.02 million, a price-to-earnings ratio of -2.76 and a beta of 0.20. The stock’s 50 day moving average is $14.00 and its 200-day moving average is $11.13. IGM Biosciences, Inc. has a 12 month low of $5.58 and a 12 month high of $22.50.

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

Analyst Upgrades and Downgrades

IGMS has been the subject of several research analyst reports. Guggenheim reduced their price target on shares of IGM Biosciences from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Stifel Nicolaus increased their target price on shares of IGM Biosciences from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Royal Bank of Canada increased their price target on IGM Biosciences from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lowered shares of IGM Biosciences from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $12.00 to $9.00 in a research note on Tuesday, October 1st. Finally, Wedbush dropped their price objective on IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, IGM Biosciences has a consensus rating of “Hold” and a consensus price target of $16.13.

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.