Nuveen LLC Makes New $52,000 Investment in IGM Biosciences, Inc. $IGMS

Nuveen LLC purchased a new position in shares of IGM Biosciences, Inc. (NASDAQ:IGMS) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,015 shares of the company’s stock, valued at approximately $52,000. Nuveen LLC owned 0.08% of IGM Biosciences as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of IGM Biosciences during the 4th quarter worth about $184,000. Deutsche Bank AG increased its position in shares of IGM Biosciences by 316.6% during the 1st quarter. Deutsche Bank AG now owns 46,773 shares of the company’s stock worth $54,000 after purchasing an additional 35,546 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of IGM Biosciences during the 1st quarter worth about $42,000. Eagle Bay Advisors LLC increased its position in shares of IGM Biosciences by 123.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 99,635 shares of the company’s stock worth $115,000 after purchasing an additional 55,000 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of IGM Biosciences by 196.7% during the 4th quarter. Two Sigma Investments LP now owns 107,620 shares of the company’s stock worth $658,000 after purchasing an additional 71,343 shares in the last quarter. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Price Performance

Shares of IGM Biosciences stock opened at $1.27 on Monday. The firm has a market cap of $76.57 million, a P/E ratio of -1.41 and a beta of 0.60. The firm has a 50 day simple moving average of $1.29 and a 200 day simple moving average of $1.26. IGM Biosciences, Inc. has a fifty-two week low of $0.92 and a fifty-two week high of $22.50.

IGM Biosciences (NASDAQ:IGMS) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $1.88. The business 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, sell-side analysts expect that IGM Biosciences, Inc. will post -3.35 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of IGM Biosciences to a “hold” rating in a research report on Saturday, August 16th. Eight research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $4.89.

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.