IGM Biosciences, Inc. (NASDAQ:IGMS – Get Free Report) CEO Fred Schwarzer sold 3,946 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $11.54, for a total value of $45,536.84. Following the transaction, the chief executive officer now directly owns 250,124 shares of the company’s stock, valued at approximately $2,886,430.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
IGM Biosciences Trading Down 5.8 %
Shares of IGM Biosciences stock opened at $16.65 on Thursday. The stock has a 50-day moving average price of $10.64 and a 200 day moving average price of $9.44. The company has a market cap of $982.75 million, a P/E ratio of -3.86 and a beta of 0.19. IGM Biosciences, Inc. has a 1 year low of $3.81 and a 1 year high of $22.50.
IGM Biosciences (NASDAQ:IGMS – Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.97). The business had revenue of $1.25 million during the quarter, compared to analysts’ expectations of $51.75 million. IGM Biosciences had a negative return on equity of 119.02% and a negative net margin of 7,571.35%. On average, equities analysts forecast that IGM Biosciences, Inc. will post -3.13 earnings per share for the current fiscal year.
Institutional Investors Weigh In On IGM Biosciences
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on IGMS shares. HC Wainwright decreased their target price on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of IGM Biosciences in a research report on Thursday, August 15th. Truist Financial decreased their price target on IGM Biosciences from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. JPMorgan Chase & Co. increased their price target on IGM Biosciences from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Wedbush reiterated an “outperform” rating and issued a $25.00 price target (up previously from $20.00) on shares of IGM Biosciences in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, IGM Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $16.63.
View Our Latest Stock Analysis on IGM Biosciences
About IGM Biosciences
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.
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