IGM Biosciences, Inc. (NASDAQ:IGMS) Receives Average Rating of “Moderate Buy” from Analysts

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) have been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $17.75.

Several analysts have weighed in on the stock. Truist Financial cut shares of IGM Biosciences from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $24.00 to $12.00 in a research note on Tuesday, October 1st. Royal Bank of Canada lifted their price target on shares of IGM Biosciences from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Wedbush reduced their price target on IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. BMO Capital Markets assumed coverage on IGM Biosciences in a report on Friday, December 6th. They issued an “outperform” rating and a $21.00 price objective for the company. Finally, Stifel Nicolaus increased their target price on IGM Biosciences from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, November 11th.

IGM Biosciences Trading Down 8.8 %

Shares of NASDAQ IGMS opened at $6.20 on Thursday. The firm has a market cap of $368.68 million, a P/E ratio of -1.70 and a beta of 0.11. The business’s 50 day moving average is $9.44 and its 200-day moving average is $10.96. IGM Biosciences has a 1-year low of $5.79 and a 1-year high of $22.50.

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

Hedge Funds Weigh In On IGM Biosciences

Institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC acquired a new stake in IGM Biosciences in the third quarter valued at about $149,000. 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 acquiring an additional 4,961 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of IGM Biosciences in the 2nd quarter valued at approximately $84,000. XTX Topco Ltd boosted its stake in shares of IGM Biosciences by 70.9% in 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 in the last quarter. Finally, Barclays PLC grew its holdings in shares of IGM Biosciences by 48.4% during the 3rd quarter. Barclays PLC now owns 21,554 shares of the company’s stock valued at $356,000 after purchasing an additional 7,027 shares during the last quarter. Institutional investors and hedge funds own 42.79% of the company’s stock.

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.