IGM Biosciences, Inc. (NASDAQ:IGMS – Free Report) – 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 – Get Free Report) 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%.
View Our Latest Research Report on IGM Biosciences
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.
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