Nisa Investment Advisors LLC Buys 3,847 Shares of IGM Biosciences, Inc. (NASDAQ:IGMS)

Nisa Investment Advisors LLC raised its stake in IGM Biosciences, Inc. (NASDAQ:IGMS) by 7,258.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,900 shares of the company’s stock after purchasing an additional 3,847 shares during the quarter. Nisa Investment Advisors LLC’s holdings in IGM Biosciences were worth $32,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IGMS. Rhenman & Partners Asset Management AB raised its holdings in IGM Biosciences by 275.0% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 750,000 shares of the company’s stock valued at $6,262,000 after buying an additional 550,000 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of IGM Biosciences during the third quarter valued at about $1,038,000. TD Asset Management Inc boosted its holdings in shares of IGM Biosciences by 100.0% during the third quarter. TD Asset Management Inc now owns 83,452 shares of the company’s stock worth $697,000 after purchasing an additional 41,726 shares during the period. GSA Capital Partners LLP grew its stake in shares of IGM Biosciences by 24.7% in the third quarter. GSA Capital Partners LLP now owns 133,276 shares of the company’s stock worth $1,113,000 after purchasing an additional 26,358 shares during the last quarter. Finally, Pale Fire Capital SE purchased a new position in IGM Biosciences during the 3rd quarter valued at about $105,000. Hedge funds and other institutional investors own 42.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on IGMS shares. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price objective on shares of IGM Biosciences in a report on Thursday, April 18th. Royal Bank of Canada raised shares of IGM Biosciences from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $9.00 to $21.00 in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Insider Buying and Selling

In other IGM Biosciences news, CFO Misbah Tahir sold 2,897 shares of IGM Biosciences stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $9.88, for a total transaction of $28,622.36. Following the completion of the transaction, the chief financial officer now owns 92,961 shares in the company, valued at $918,454.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Misbah Tahir sold 2,897 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $9.88, for a total transaction of $28,622.36. Following the sale, the chief financial officer now directly owns 92,961 shares of the company’s stock, valued at approximately $918,454.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fred Schwarzer sold 4,765 shares of IGM Biosciences stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $9.88, for a total transaction of $47,078.20. Following the completion of the transaction, the chief executive officer now directly owns 220,833 shares of the company’s stock, valued at $2,181,830.04. The disclosure for this sale can be found here. Insiders have sold 8,191 shares of company stock worth $80,927 in the last 90 days. Insiders own 56.91% of the company’s stock.

IGM Biosciences Trading Down 6.3 %

Shares of IGM Biosciences stock opened at $6.75 on Tuesday. IGM Biosciences, Inc. has a 12 month low of $3.81 and a 12 month high of $17.70. The firm has a market capitalization of $396.83 million, a P/E ratio of -1.40 and a beta of 0.26. The business has a fifty day simple moving average of $10.97 and a two-hundred day simple moving average of $8.75.

IGM Biosciences (NASDAQ:IGMS) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.05. IGM Biosciences had a negative net margin of 11,568.83% and a negative return on equity of 103.20%. The business had revenue of $0.65 million for the quarter, compared to analyst estimates of $0.95 million. Analysts predict that IGM Biosciences, Inc. will post -3.23 earnings per share for the current year.

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.