IGM Biosciences, Inc. (NASDAQ:IGMS) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in IGM Biosciences, Inc. (NASDAQ:IGMS) by 12.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,402 shares of the company’s stock after acquiring an additional 16,072 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.25% of IGM Biosciences worth $2,455,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quest Partners LLC increased its holdings in shares of IGM Biosciences by 71.4% in 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 during the period. AQR Capital Management LLC acquired a new stake in shares of IGM Biosciences in the 2nd quarter worth about $84,000. XTX Topco Ltd increased its holdings in shares of IGM Biosciences by 70.9% in the 2nd quarter. XTX Topco Ltd now owns 20,408 shares of the company’s stock worth $140,000 after acquiring an additional 8,467 shares during the period. Rhumbline Advisers grew its position 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 buying an additional 2,635 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in IGM Biosciences in the 2nd quarter valued at about $187,000. Institutional investors and hedge funds own 42.79% of the company’s stock.

IGM Biosciences Stock Down 12.8 %

NASDAQ:IGMS opened at $7.17 on Monday. IGM Biosciences, Inc. has a 12 month low of $5.90 and a 12 month high of $22.50. The firm has a market cap of $426.36 million, a price-to-earnings ratio of -1.97 and a beta of 0.08. The company’s 50 day moving average is $12.75 and its 200-day moving average is $11.14.

IGM Biosciences (NASDAQ:IGMS) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.19). The company had revenue of $0.52 million during the quarter, compared to analyst estimates of $0.23 million. IGM Biosciences had a negative return on equity of 155.42% and a negative net margin of 7,534.03%. Research analysts predict that IGM Biosciences, Inc. will post -3.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IGMS has been the subject of a number of recent analyst reports. Truist Financial lowered shares of IGM Biosciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $24.00 to $12.00 in a research report on Tuesday, October 1st. Royal Bank of Canada raised their price objective on shares of IGM Biosciences from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Wedbush reduced their price objective on shares of IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on shares of IGM Biosciences from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, HC Wainwright reduced their price objective on shares of IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.75.

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.