IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Sells $31,563.12 in Stock

IGM Biosciences, Inc. (NASDAQ:IGMSGet Free Report) CEO Fred Schwarzer sold 4,164 shares of IGM Biosciences stock in a transaction on Friday, June 14th. The stock was sold at an average price of $7.58, for a total transaction of $31,563.12. Following the completion of the transaction, the chief executive officer now directly owns 254,070 shares in the company, valued at $1,925,850.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

IGM Biosciences Stock Performance

NASDAQ IGMS opened at $6.51 on Friday. The stock’s 50 day moving average is $8.70 and its 200 day moving average is $9.82. IGM Biosciences, Inc. has a twelve month low of $3.81 and a twelve month high of $17.70.

IGM Biosciences (NASDAQ:IGMSGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.01. IGM Biosciences had a negative net margin of 11,255.25% and a negative return on equity of 108.07%. The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $0.71 million. As a group, equities analysts predict that IGM Biosciences, Inc. will post -2.31 EPS for the current year.

Wall Street Analyst Weigh In

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

View Our Latest Stock Analysis on IGMS

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale bought a new position in shares of IGM Biosciences during the third quarter valued at $50,000. Pale Fire Capital SE purchased a new position in IGM Biosciences in the third quarter worth about $105,000. GSA Capital Partners LLP lifted its stake in shares of IGM Biosciences by 24.7% in the third quarter. GSA Capital Partners LLP now owns 133,276 shares of the company’s stock worth $1,113,000 after buying an additional 26,358 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of IGM Biosciences during the third quarter valued at approximately $1,038,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of IGM Biosciences by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 19,048 shares of the company’s stock valued at $158,000 after buying an additional 4,830 shares during the last quarter. Hedge funds and other institutional investors own 42.79% of the company’s stock.

IGM Biosciences Company Profile

(Get Free Report)

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.

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