IGM Biosciences, Inc. (NASDAQ:IGMS) Director Acquires $23,696.00 in Stock

IGM Biosciences, Inc. (NASDAQ:IGMSGet Rating) Director Jakob Haldor Topsoe purchased 1,481 shares of the company’s stock in a transaction dated Friday, May 20th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $23,696.00. Following the transaction, the director now directly owns 73,462 shares in the company, valued at approximately $1,175,392. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of IGM Biosciences stock traded down $1.38 during trading on Tuesday, reaching $17.37. 610,658 shares of the company traded hands, compared to its average volume of 892,134. The firm has a market capitalization of $738.69 million, a PE ratio of -3.40 and a beta of -0.13. The company has a 50 day moving average price of $18.57 and a 200-day moving average price of $26.02. IGM Biosciences, Inc. has a 1-year low of $12.74 and a 1-year high of $99.44.

IGM Biosciences (NASDAQ:IGMSGet Rating) last announced its quarterly earnings results on Tuesday, March 29th. The company reported ($1.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.58) by $0.08. During the same quarter in the prior year, the business posted ($0.79) EPS. As a group, equities research analysts forecast that IGM Biosciences, Inc. will post -6.01 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new stake in IGM Biosciences during the 4th quarter valued at $34,000. US Bancorp DE grew its stake in shares of IGM Biosciences by 608.4% in the 1st quarter. US Bancorp DE now owns 2,437 shares of the company’s stock worth $65,000 after acquiring an additional 2,093 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of IGM Biosciences in the 3rd quarter worth $222,000. Invesco Ltd. bought a new stake in shares of IGM Biosciences in the 2nd quarter worth $346,000. Finally, GSA Capital Partners LLP grew its stake in shares of IGM Biosciences by 10.4% in the 3rd quarter. GSA Capital Partners LLP now owns 5,405 shares of the company’s stock worth $355,000 after acquiring an additional 509 shares in the last quarter. Institutional investors and hedge funds own 42.92% of the company’s stock.

A number of brokerages have recently issued reports on IGMS. Zacks Investment Research downgraded shares of IGM Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, April 2nd. HC Wainwright dropped their price target on shares of IGM Biosciences from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, May 17th. Wedbush dropped their price target on shares of IGM Biosciences from $67.00 to $58.00 in a research report on Thursday, March 31st. Morgan Stanley boosted their target price on shares of IGM Biosciences from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 30th. Finally, Robert W. Baird dropped their target price on shares of IGM Biosciences from $65.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, IGM Biosciences has a consensus rating of “Buy” and an average target price of $59.10.

About IGM Biosciences (Get Rating)

IGM Biosciences, Inc, a biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of cancer, infectious diseases, and autoimmune and inflammatory diseases. The company's lead product candidate is IGM-2323, a bispecific IgM antibody that is in Phase 2 clinical trials to treat patients with relapsed/refractory B cell Non-Hodgkin's lymphoma (NHL).

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