IGM Biosciences, Inc. (NASDAQ:IGMS) Shares Acquired by Baker BROS. Advisors LP

Baker BROS. Advisors LP increased its holdings in shares of IGM Biosciences, Inc. (NASDAQ:IGMS) by 0.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,092,310 shares of the company’s stock after buying an additional 1,994 shares during the period. IGM Biosciences makes up approximately 0.7% of Baker BROS. Advisors LP’s portfolio, making the stock its 21st biggest position. Baker BROS. Advisors LP owned 0.07% of IGM Biosciences worth $67,687,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC lifted its stake in IGM Biosciences by 71.4% in the second quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock valued at $82,000 after buying an additional 4,961 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of IGM Biosciences in the 2nd quarter worth about $84,000. XTX Topco Ltd lifted its position in IGM Biosciences by 70.9% in the 2nd quarter. XTX Topco Ltd now owns 20,408 shares of the company’s stock valued at $140,000 after purchasing an additional 8,467 shares during the last quarter. MetLife Investment Management LLC acquired a new position in IGM Biosciences during the 3rd quarter valued at about $149,000. Finally, Rhumbline Advisers grew its position in IGM Biosciences by 13.1% in the 2nd quarter. Rhumbline Advisers now owns 22,726 shares of the company’s stock worth $156,000 after purchasing an additional 2,635 shares during the last quarter. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Stock Down 3.7 %

Shares of IGM Biosciences stock opened at $10.04 on Monday. The business has a fifty day simple moving average of $14.00 and a 200-day simple moving average of $11.13. IGM Biosciences, Inc. has a fifty-two week low of $5.58 and a fifty-two week high of $22.50. The firm has a market cap of $597.02 million, a price-to-earnings ratio of -2.76 and a beta of 0.20.

IGM Biosciences (NASDAQ:IGMS) last issued 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). IGM Biosciences had a negative return on equity of 155.42% and a negative net margin of 7,534.03%. The business had revenue of $0.52 million during the quarter, compared to the consensus estimate of $0.23 million. Analysts anticipate that IGM Biosciences, Inc. will post -3.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IGMS. HC Wainwright cut their price target on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Guggenheim reduced their price target on IGM Biosciences from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Stifel Nicolaus increased their price target on IGM Biosciences from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Truist Financial cut shares of IGM Biosciences from a “buy” rating to a “hold” rating and cut their price objective for the company from $24.00 to $12.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered shares of IGM Biosciences from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $12.00 to $9.00 in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.13.

Insider Activity at IGM Biosciences

In other IGM Biosciences news, CEO Fred Schwarzer sold 3,946 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $11.54, for a total value of $45,536.84. Following the transaction, the chief executive officer now owns 250,124 shares of the company’s stock, valued at approximately $2,886,430.96. This represents a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 5,902 shares of company stock valued at $68,109 over the last ninety days. Insiders own 57.00% of the company’s stock.

About IGM Biosciences

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.