IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Misbah Tahir Sells 1,487 Shares of Stock

IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Misbah Tahir sold 1,487 shares of IGM Biosciences stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $11.54, for a total transaction of $17,159.98. Following the transaction, the chief financial officer now directly owns 122,694 shares in the company, valued at $1,415,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

IGM Biosciences Stock Performance

NASDAQ:IGMS opened at $17.68 on Wednesday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -4.10 and a beta of 0.19. IGM Biosciences, Inc. has a one year low of $3.81 and a one year high of $22.50. The business’s 50-day simple moving average is $10.45 and its 200 day simple moving average is $9.39.

IGM Biosciences (NASDAQ:IGMS) last posted 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 for 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 research analysts predict that IGM Biosciences, Inc. will post -3.13 EPS for the current year.

Institutional Trading of IGM Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in IGMS. Quest Partners LLC grew its holdings in IGM Biosciences by 71.4% during the 2nd quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock worth $82,000 after acquiring an additional 4,961 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of IGM Biosciences during the second quarter worth about $84,000. EntryPoint Capital LLC bought a new position in shares of IGM Biosciences during the first quarter worth about $152,000. XTX Topco Ltd grew its stake in IGM Biosciences by 70.9% in the second quarter. XTX Topco Ltd now owns 20,408 shares of the company’s stock worth $140,000 after purchasing an additional 8,467 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of IGM Biosciences by 13.1% in the 2nd quarter. Rhumbline Advisers now owns 22,726 shares of the company’s stock worth $156,000 after acquiring an additional 2,635 shares in the last quarter. Institutional investors own 42.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $25.00 target price (up previously from $20.00) on shares of IGM Biosciences in a research note on Wednesday, August 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of IGM Biosciences in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on IGM Biosciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Truist Financial lowered their target price on IGM Biosciences from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Finally, HC Wainwright reduced their price target on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, 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.