XTX Topco Ltd Has $140,000 Stock Holdings in IGM Biosciences, Inc. (NASDAQ:IGMS)

XTX Topco Ltd grew its stake in shares of IGM Biosciences, Inc. (NASDAQ:IGMS) by 70.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,408 shares of the company’s stock after purchasing an additional 8,467 shares during the quarter. XTX Topco Ltd’s holdings in IGM Biosciences were worth $140,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IGMS. Quest Partners LLC grew its stake 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 valued at $82,000 after buying an additional 4,961 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of IGM Biosciences in the 1st quarter valued at about $152,000. Rhumbline Advisers increased its stake in shares of IGM Biosciences by 13.1% during the 2nd quarter. Rhumbline Advisers now owns 22,726 shares of the company’s stock worth $156,000 after purchasing an additional 2,635 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of IGM Biosciences in the 1st quarter valued at about $268,000. Finally, Bank of New York Mellon Corp lifted its stake in IGM Biosciences by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 53,980 shares of the company’s stock valued at $371,000 after purchasing an additional 4,427 shares during the last quarter. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Stock Performance

IGMS stock opened at $16.54 on Tuesday. IGM Biosciences, Inc. has a 52 week low of $3.81 and a 52 week high of $22.50. The company has a market capitalization of $976.26 million, a PE ratio of -3.84 and a beta of 0.19. The company’s 50-day simple moving average is $11.59 and its 200 day simple moving average is $9.72.

IGM Biosciences (NASDAQ:IGMS) last announced its 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). IGM Biosciences had a negative return on equity of 119.02% and a negative net margin of 7,571.35%. The business had revenue of $1.25 million for the quarter, compared to analyst estimates of $51.75 million. On average, analysts forecast that IGM Biosciences, Inc. will post -3.13 EPS for the current year.

Insider Buying and Selling

In other IGM Biosciences news, CEO Fred Schwarzer sold 3,946 shares of IGM Biosciences 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other IGM Biosciences news, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Julie Hambleton sold 15,132 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $14.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 21,034 shares of company stock valued at $279,957 over the last 90 days. 57.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial lowered their price target 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 restated an “outperform” rating and issued a $25.00 price target (up previously from $20.00) on shares of IGM Biosciences in a research note on Wednesday, August 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of IGM Biosciences in a research report on Thursday, August 15th. HC Wainwright dropped their price objective on shares of IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of IGM Biosciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.63.

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.