IGM Biosciences (NASDAQ:IGMS) Stock Price Up 6.8%

IGM Biosciences (NASDAQ:IGMS) rose 6.8% on Thursday . The stock traded as high as $26.92 and last traded at $27.17, approximately 2,734 shares changed hands during mid-day trading. A decline of 96% from the average daily volume of 67,561 shares. The stock had previously closed at $25.45.

IGMS has been the subject of several analyst reports. Guggenheim initiated coverage on IGM Biosciences in a research report on Monday, October 14th. They issued a “buy” rating and a $30.00 target price for the company. Jefferies Financial Group initiated coverage on IGM Biosciences in a research report on Monday, October 14th. They issued a “buy” rating and a $25.00 target price for the company. Stifel Nicolaus initiated coverage on IGM Biosciences in a research report on Monday, October 14th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Piper Jaffray Companies initiated coverage on IGM Biosciences in a research report on Sunday, October 13th. They issued an “overweight” rating and a $26.00 target price for the company.

The firm has a 50-day moving average price of $20.47.

IGM Biosciences (NASDAQ:IGMS) last issued its earnings results on Thursday, November 7th. The company reported ($2.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($1.32). On average, equities research analysts predict that IGM Biosciences will post -2.53 EPS for the current year.

In other IGM Biosciences news, major shareholder Topsoe Holding A/S Haldor purchased 1,250,000 shares of IGM Biosciences stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average price of $16.00 per share, with a total value of $20,000,000.00. Also, Director Jakob Haldor Topsoe purchased 1,285,475 shares of IGM Biosciences stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average cost of $16.00 per share, with a total value of $20,567,600.00. Insiders purchased 5,683,475 shares of company stock valued at $90,953,600 in the last three months.

An institutional investor recently bought a new position in IGM Biosciences stock. Dean Capital Investments Management LLC purchased a new stake in IGM Biosciences (NASDAQ:IGMS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,692 shares of the company’s stock, valued at approximately $438,000. Dean Capital Investments Management LLC owned about 0.09% of IGM Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC). 0.10% of the stock is currently owned by hedge funds and other institutional investors.

IGM Biosciences Company Profile (NASDAQ:IGMS)

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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