Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their target price on IGM Biosciences from to and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wolfe Research started coverage on IGM Biosciences in a research note on Thursday, March 12th. They issued an “outperform” rating for the company. Piper Jaffray Companies boosted their price objective on IGM Biosciences from $26.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Zacks Investment Research cut IGM Biosciences from a “hold” rating to a “sell” rating in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $35.40.
IGMS stock traded down $1.09 during trading on Thursday, hitting $58.92. 54,000 shares of the company’s stock were exchanged, compared to its average volume of 138,511. The business has a 50-day moving average price of $50.80 and a two-hundred day moving average price of $34.25. The stock has a market capitalization of $1.83 billion and a price-to-earnings ratio of -12.28. IGM Biosciences has a 52-week low of $16.10 and a 52-week high of $74.13. The company has a current ratio of 26.04, a quick ratio of 26.04 and a debt-to-equity ratio of 0.05.
Several large investors have recently added to or reduced their stakes in IGMS. Janus Henderson Group PLC increased its holdings in shares of IGM Biosciences by 189.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,523,762 shares of the company’s stock valued at $55,981,000 after purchasing an additional 997,235 shares during the period. RA Capital Management L.P. increased its holdings in shares of IGM Biosciences by 110.7% in the fourth quarter. RA Capital Management L.P. now owns 982,723 shares of the company’s stock valued at $37,501,000 after purchasing an additional 516,355 shares during the period. Millennium Management LLC acquired a new position in shares of IGM Biosciences in the third quarter valued at approximately $4,504,000. Geode Capital Management LLC acquired a new position in shares of IGM Biosciences in the fourth quarter valued at approximately $4,676,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of IGM Biosciences in the fourth quarter valued at approximately $2,231,000. 40.89% of the stock is currently owned by institutional investors and hedge funds.
About IGM Biosciences
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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