IGM Biosciences, Inc. (NASDAQ:IGMS) Given Consensus Rating of “Reduce” by Analysts

IGM Biosciences, Inc. (NASDAQ:IGMS) has been assigned an average recommendation of “Reduce” from the nine analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $4.8889.

Separately, Wall Street Zen raised shares of IGM Biosciences to a “hold” rating in a report on Saturday, August 16th.

Institutional Investors Weigh In On IGM Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in IGM Biosciences in the 2nd quarter worth approximately $203,000. Marshall Wace LLP purchased a new stake in IGM Biosciences in the 2nd quarter worth approximately $50,000. XTX Topco Ltd purchased a new stake in IGM Biosciences during the 2nd quarter valued at approximately $30,000. Acadian Asset Management LLC purchased a new stake in IGM Biosciences during the 1st quarter valued at approximately $97,000. Finally, AQR Capital Management LLC purchased a new stake in IGM Biosciences during the 1st quarter valued at approximately $275,000. 42.79% of the stock is owned by hedge funds and other institutional investors.

IGM Biosciences Stock Performance

IGM Biosciences stock opened at $1.27 on Monday. The firm has a 50 day moving average of $1.29 and a 200 day moving average of $1.26. The firm has a market capitalization of $76.57 million, a price-to-earnings ratio of -1.41 and a beta of 0.60. IGM Biosciences has a 12-month low of $0.92 and a 12-month high of $22.50.

IGM Biosciences (NASDAQ:IGMS) last released its earnings results on Thursday, July 31st. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $1.88. The company had revenue of $143.62 million during the quarter, compared to analyst estimates of $3.20 million. IGM Biosciences had a negative net margin of 36.81% and a negative return on equity of 93.35%. On average, analysts predict that IGM Biosciences will post -3.35 EPS for the current year.

IGM Biosciences Company 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.