IGM Biosciences (NASDAQ:IGMS) Coverage Initiated at Guggenheim

Guggenheim began coverage on shares of IGM Biosciences (NASDAQ:IGMS) in a report released on Monday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $30.00 target price on the stock.

Separately, Piper Jaffray Companies assumed coverage on IGM Biosciences in a research note on Sunday. They issued an overweight rating and a $26.00 price target for the company.

NASDAQ:IGMS opened at $18.64 on Monday. IGM Biosciences has a fifty-two week low of $16.10 and a fifty-two week high of $24.57.

In other IGM Biosciences news, Director Jakob Haldor Topsoe purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of $20.50 per share, with a total value of $82,000.00. Also, Director Bros. Advisors Lp Baker purchased 3,144,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was acquired at an average cost of $16.00 per share, with a total value of $50,304,000.00. Insiders purchased 5,683,475 shares of company stock valued at $90,953,600 in the last ninety days.

IGM Biosciences Company Profile

IGM Biosciences, Inc, a biotechnology company, engages in the research and development of engineered Immunoglobulin M (IgM) antibodies for the treatment of cancer patients. The company's lead product candidate is IGM-2323, a bispecific T cell engaging IgM antibody that completed preclinical trials for targeting CD20 and CD3 proteins for the treatment of relapsed/refractory B cell Non-Hodgkin's lymphoma.

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