Insider Selling: IGM Biosciences, Inc. (NASDAQ:IGMS) Director Sells 15,132 Shares of Stock

IGM Biosciences, Inc. (NASDAQ:IGMS) Director Julie Hambleton sold 15,132 shares of IGM Biosciences stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $14.00, for a total value of $211,848.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $28,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

IGM Biosciences Price Performance

Shares of NASDAQ IGMS traded up $0.19 during midday trading on Monday, reaching $11.37. The company’s stock had a trading volume of 272,542 shares, compared to its average volume of 323,709. The stock has a market capitalization of $671.10 million, a P/E ratio of -2.64 and a beta of 0.20. The firm has a 50 day moving average price of $8.57 and a 200-day moving average price of $9.97. IGM Biosciences, Inc. has a 12-month low of $3.81 and a 12-month high of $17.70.

IGM Biosciences (NASDAQ:IGMS) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.01. The company had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.71 million. IGM Biosciences had a negative net margin of 11,255.25% and a negative return on equity of 108.07%. On average, equities analysts predict that IGM Biosciences, Inc. will post -2.31 EPS for the current year.

Institutional Investors Weigh In On IGM Biosciences

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in shares of IGM Biosciences by 7,258.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,900 shares of the company’s stock worth $32,000 after purchasing an additional 3,847 shares during the period. Panagora Asset Management Inc. bought a new stake in shares of IGM Biosciences in the 4th quarter worth approximately $252,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of IGM Biosciences in the 1st quarter worth approximately $268,000. Pennant Investors LP bought a new stake in shares of IGM Biosciences in the 4th quarter worth approximately $539,000. Finally, EntryPoint Capital LLC bought a new stake in shares of IGM Biosciences in the 1st quarter worth approximately $152,000. Institutional investors own 42.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IGMS shares. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of IGM Biosciences in a research note on Thursday, May 9th. HC Wainwright restated a “neutral” rating and issued a $12.00 target price on shares of IGM Biosciences in a research note on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.89.

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.