IGM Biosciences, Inc. (NASDAQ:IGMS) Given Average Rating of “Moderate Buy” by Brokerages

IGM Biosciences, Inc. (NASDAQ:IGMS) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $17.75.

IGMS has been the subject of several analyst reports. HC Wainwright decreased their price target on shares of IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Guggenheim decreased their target price on shares of IGM Biosciences from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. BMO Capital Markets assumed coverage on shares of IGM Biosciences in a report on Friday, December 6th. They issued an “outperform” rating and a $21.00 price target on the stock. Royal Bank of Canada upped their price target on IGM Biosciences from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Wedbush lowered their price objective on IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st.

Institutional Investors Weigh In On IGM Biosciences

Large investors have recently made changes to their positions in the stock. State Street Corp raised its stake in IGM Biosciences by 2.7% in the 3rd quarter. State Street Corp now owns 469,790 shares of the company’s stock worth $7,770,000 after acquiring an additional 12,174 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of IGM Biosciences by 7.6% in the third quarter. Geode Capital Management LLC now owns 395,799 shares of the company’s stock worth $6,548,000 after purchasing an additional 28,118 shares during the last quarter. TD Asset Management Inc raised its stake in shares of IGM Biosciences by 3.4% in the second quarter. TD Asset Management Inc now owns 164,472 shares of the company’s stock worth $1,130,000 after purchasing an additional 5,350 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of IGM Biosciences by 12.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 148,402 shares of the company’s stock worth $2,455,000 after purchasing an additional 16,072 shares during the period. Finally, Renaissance Technologies LLC boosted its position in IGM Biosciences by 126.0% in the second quarter. Renaissance Technologies LLC now owns 108,693 shares of the company’s stock valued at $747,000 after buying an additional 60,593 shares during the last quarter. 42.79% of the stock is owned by hedge funds and other institutional investors.

IGM Biosciences Stock Down 2.1 %

Shares of NASDAQ:IGMS opened at $6.90 on Friday. The firm has a 50 day moving average of $12.06 and a 200 day moving average of $11.08. The company has a market capitalization of $410.30 million, a price-to-earnings ratio of -1.90 and a beta of 0.08. IGM Biosciences has a 52 week low of $6.17 and a 52 week high of $22.50.

IGM Biosciences (NASDAQ:IGMS) last released its quarterly earnings results on Friday, November 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.19). The company had revenue of $0.52 million during the quarter, compared to the consensus estimate of $0.23 million. IGM Biosciences had a negative return on equity of 155.42% and a negative net margin of 7,534.03%. On average, sell-side analysts expect that IGM Biosciences will post -3.33 EPS for the current year.

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.