IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Misbah Tahir Sells 950 Shares

IGM Biosciences, Inc. (NASDAQ:IGMSGet Rating) CFO Misbah Tahir sold 950 shares of IGM Biosciences stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $17.10, for a total transaction of $16,245.00. Following the sale, the chief financial officer now owns 33,698 shares of the company’s stock, valued at $576,235.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

NASDAQ:IGMS opened at $16.56 on Friday. The stock has a market cap of $704.25 million, a P/E ratio of -3.01 and a beta of -0.13. The firm’s fifty day simple moving average is $18.65 and its 200 day simple moving average is $25.26. IGM Biosciences, Inc. has a twelve month low of $12.74 and a twelve month high of $99.44.

IGM Biosciences (NASDAQ:IGMSGet Rating) last announced its earnings results on Tuesday, March 29th. The company reported ($1.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.58) by $0.08. During the same quarter in the prior year, the firm posted ($0.79) EPS. Analysts predict that IGM Biosciences, Inc. will post -6.01 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of IGM Biosciences from $80.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, March 30th. HC Wainwright decreased their price target on shares of IGM Biosciences from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, May 17th. Morgan Stanley lifted their price target on shares of IGM Biosciences from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 30th. Robert W. Baird decreased their price target on shares of IGM Biosciences from $65.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, April 4th. Finally, Wedbush decreased their price target on shares of IGM Biosciences from $67.00 to $58.00 in a research note on Thursday, March 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $59.10.

Hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in shares of IGM Biosciences during the 4th quarter valued at $34,000. US Bancorp DE boosted its holdings in shares of IGM Biosciences by 608.4% during the 1st quarter. US Bancorp DE now owns 2,437 shares of the company’s stock valued at $65,000 after buying an additional 2,093 shares in the last quarter. Virtus ETF Advisers LLC boosted its holdings in shares of IGM Biosciences by 161.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,787 shares of the company’s stock valued at $170,000 after buying an additional 3,574 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of IGM Biosciences by 13.0% during the 4th quarter. JPMorgan Chase & Co. now owns 7,517 shares of the company’s stock valued at $220,000 after buying an additional 862 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of IGM Biosciences during the 3rd quarter valued at $222,000. Hedge funds and other institutional investors own 42.92% of the company’s stock.

About IGM Biosciences (Get Rating)

IGM Biosciences, Inc, a biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of cancer, infectious diseases, and autoimmune and inflammatory diseases. The company's lead product candidate is IGM-2323, a bispecific IgM antibody that is in Phase 2 clinical trials to treat patients with relapsed/refractory B cell Non-Hodgkin's lymphoma (NHL).

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