Mary Beth Harler Sells 1,708 Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) Stock

IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Mary Beth Harler sold 1,708 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.48, for a total transaction of $12,775.84. Following the sale, the chief executive officer now directly owns 347,032 shares in the company, valued at approximately $2,595,799.36. The trade was a 0.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

IGM Biosciences Stock Performance

IGMS traded down $0.38 during trading on Wednesday, hitting $7.10. 219,786 shares of the stock were exchanged, compared to its average volume of 301,707. IGM Biosciences, Inc. has a 1 year low of $6.17 and a 1 year high of $22.50. The firm has a market cap of $422.19 million, a price-to-earnings ratio of -1.95 and a beta of 0.08. The firm has a 50 day simple moving average of $12.35 and a 200 day simple moving average of $11.10.

IGM Biosciences (NASDAQ:IGMS) last released its quarterly earnings data on Friday, November 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.19). IGM Biosciences had a negative net margin of 7,534.03% and a negative return on equity of 155.42%. The firm had revenue of $0.52 million during the quarter, compared to the consensus estimate of $0.23 million. As a group, equities analysts anticipate that IGM Biosciences, Inc. will post -3.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IGM Biosciences

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its position in IGM Biosciences by 13.1% during the second quarter. Rhumbline Advisers now owns 22,726 shares of the company’s stock valued at $156,000 after purchasing an additional 2,635 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of IGM Biosciences by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 53,980 shares of the company’s stock valued at $371,000 after buying an additional 4,427 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of IGM Biosciences by 71.4% in the 2nd quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock valued at $82,000 after buying an additional 4,961 shares in the last quarter. TD Asset Management Inc grew its position in shares of IGM Biosciences by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 164,472 shares of the company’s stock worth $1,130,000 after buying an additional 5,350 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of IGM Biosciences by 8.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 74,612 shares of the company’s stock worth $1,234,000 after acquiring an additional 5,683 shares in the last quarter. Hedge funds and other institutional investors own 42.79% of the company’s stock.

Wall Street Analyst Weigh In

IGMS has been the topic of a number of analyst reports. Truist Financial cut shares of IGM Biosciences from a “buy” rating to a “hold” rating and cut their price objective for the company from $24.00 to $12.00 in a research report on Tuesday, October 1st. Wedbush reduced their price objective on shares of IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. HC Wainwright decreased their price objective on shares of IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Stifel Nicolaus upped their target price on IGM Biosciences from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada boosted their price objective on IGM Biosciences from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.75.

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.