Q3 2024 EPS Estimates for IGM Biosciences, Inc. (NASDAQ:IGMS) Raised by HC Wainwright

IGM Biosciences, Inc. (NASDAQ:IGMS) – Analysts at HC Wainwright boosted their Q3 2024 EPS estimates for shares of IGM Biosciences in a research report issued on Thursday, September 5th. HC Wainwright analyst R. Burns now forecasts that the company will earn ($0.82) per share for the quarter, up from their prior estimate of ($0.83). HC Wainwright has a “Neutral” rating and a $11.00 price target on the stock. The consensus estimate for IGM Biosciences’ current full-year earnings is ($3.13) per share. HC Wainwright also issued estimates for IGM Biosciences’ Q4 2024 earnings at ($0.84) EPS, FY2024 earnings at ($3.28) EPS, Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.88) EPS, Q3 2025 earnings at ($0.90) EPS, Q4 2025 earnings at ($0.93) EPS and FY2025 earnings at ($3.56) EPS.

IGM Biosciences (NASDAQ:IGMS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.97). The business had revenue of $1.25 million for the quarter, compared to the consensus estimate of $51.75 million. IGM Biosciences had a negative net margin of 7,571.35% and a negative return on equity of 119.02%.

IGMS has been the subject of a number of other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 target price on shares of IGM Biosciences in a research report on Thursday, August 15th. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price objective (up previously from $20.00) on shares of IGM Biosciences in a research note on Wednesday, August 14th. Truist Financial decreased their target price on shares of IGM Biosciences from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of IGM Biosciences from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.63.

IGM Biosciences Price Performance

IGMS stock opened at $11.27 on Monday. The firm has a 50 day simple moving average of $9.74 and a two-hundred day simple moving average of $9.38. The stock has a market cap of $665.20 million, a PE ratio of -2.61 and a beta of 0.19. IGM Biosciences has a one year low of $3.81 and a one year high of $17.70.

Institutional Trading of IGM Biosciences

Several institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in shares of IGM Biosciences in the second quarter worth approximately $187,000. AQR Capital Management LLC bought a new position in IGM Biosciences in the 2nd quarter valued at approximately $84,000. Marshall Wace LLP boosted its stake in IGM Biosciences by 51.6% during the 2nd quarter. Marshall Wace LLP now owns 107,267 shares of the company’s stock valued at $737,000 after purchasing an additional 36,491 shares during the last quarter. 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 purchasing an additional 8,467 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of IGM Biosciences by 126.0% in the second quarter. Renaissance Technologies LLC now owns 108,693 shares of the company’s stock worth $747,000 after purchasing an additional 60,593 shares during the last quarter. 42.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Fred Schwarzer sold 4,164 shares of IGM Biosciences stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $7.58, for a total transaction of $31,563.12. Following the completion of the transaction, the chief executive officer now directly owns 254,070 shares of the company’s stock, valued at approximately $1,925,850.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Fred Schwarzer sold 4,164 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $7.58, for a total transaction of $31,563.12. Following the completion of the transaction, the chief executive officer now owns 254,070 shares of the company’s stock, valued at approximately $1,925,850.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Julie Hambleton sold 15,132 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $14.00, for a total value of $211,848.00. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at $28,000. The disclosure for this sale can be found here. Insiders have sold a total of 21,361 shares of company stock valued at $259,064 over the last ninety days. Company insiders own 57.00% of the company’s stock.

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.