Dimensional Fund Advisors LP Lowers Position in IGM Biosciences, Inc. (NASDAQ:IGMS)

Dimensional Fund Advisors LP decreased its holdings in shares of IGM Biosciences, Inc. (NASDAQ:IGMS) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,034 shares of the company’s stock after selling 2,419 shares during the period. Dimensional Fund Advisors LP owned about 0.06% of IGM Biosciences worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bruce & Co. Inc. lifted its position in shares of IGM Biosciences by 53.8% during the 2nd quarter. Bruce & Co. Inc. now owns 100,000 shares of the company’s stock valued at $687,000 after buying an additional 35,000 shares in the last quarter. Quest Partners LLC lifted its holdings in IGM Biosciences by 71.4% in the 2nd quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock valued at $82,000 after purchasing an additional 4,961 shares in the last quarter. TD Asset Management Inc lifted its holdings in IGM Biosciences by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 164,472 shares of the company’s stock valued at $1,130,000 after purchasing an additional 5,350 shares in the last quarter. Rhumbline Advisers lifted its holdings in IGM Biosciences by 13.1% in the 2nd quarter. Rhumbline Advisers now owns 22,726 shares of the company’s stock valued at $156,000 after purchasing an additional 2,635 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings 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 in the last quarter. Hedge funds and other institutional investors own 42.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IGMS shares. HC Wainwright decreased their price objective on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered IGM Biosciences from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $12.00 to $9.00 in a report on Tuesday, October 1st. Truist Financial lowered IGM Biosciences from a “buy” rating to a “hold” rating and decreased their price objective for the company from $24.00 to $12.00 in a report on Tuesday, October 1st. Wedbush cut their target price on IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada cut their target price on IGM Biosciences from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, IGM Biosciences has an average rating of “Hold” and an average target price of $14.67.

IGM Biosciences Trading Up 12.0 %

Shares of NASDAQ:IGMS opened at $16.80 on Tuesday. The business has a 50-day moving average price of $12.38 and a 200 day moving average price of $10.07. The company has a market capitalization of $991.60 million, a price-to-earnings ratio of -3.90 and a beta of 0.21. IGM Biosciences, Inc. has a 12-month low of $3.81 and a 12-month high of $22.50.

IGM Biosciences (NASDAQ:IGMS) last issued its quarterly earnings data 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). The business had revenue of $1.25 million for the quarter, compared to analyst estimates of $51.75 million. IGM Biosciences had a negative return on equity of 119.02% and a negative net margin of 7,571.35%. As a group, equities research analysts predict that IGM Biosciences, Inc. will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Fred Schwarzer sold 3,946 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was 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 directly owns 250,124 shares of the company’s stock, valued at approximately $2,886,430.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other IGM Biosciences news, CEO Fred Schwarzer sold 3,946 shares of IGM Biosciences stock in a transaction dated 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 $2,886,430.96. The trade was a 0.00 % decrease in their position. 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 IGM Biosciences stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $14.00, for a total value of $211,848.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $28,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,034 shares of company stock valued at $279,957. 57.00% of the stock is currently owned by insiders.

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.