Insider Selling: IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Sells 950 Shares of Stock
IGM Biosciences, Inc. (NASDAQ:IGMS – Get Rating) CFO Misbah Tahir sold 950 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $17.10, for a total value of $16,245.00. Following the completion of the transaction, the chief financial officer now directly owns 33,698 shares of the company’s stock, valued at $576,235.80. The sale was disclosed in a filing with the SEC, which is available at this link.
IGMS traded up $0.69 during mid-day trading on Thursday, reaching $16.32. The stock had a trading volume of 367,474 shares, compared to its average volume of 882,005. The stock has a market capitalization of $694.04 million, a P/E ratio of -2.84 and a beta of -0.13. The firm’s fifty day simple moving average is $18.62 and its two-hundred day simple moving average is $25.89. IGM Biosciences, Inc. has a 52 week low of $12.74 and a 52 week high of $99.44.
IGM Biosciences (NASDAQ:IGMS – Get Rating) last announced its quarterly earnings data 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 period in the prior year, the business earned ($0.79) earnings per share. On average, equities analysts expect that IGM Biosciences, Inc. will post -6.01 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on IGMS shares. Robert W. Baird dropped their target price on IGM Biosciences from $65.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, April 4th. HC Wainwright decreased their price target on IGM Biosciences from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, May 17th. Zacks Investment Research lowered IGM Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, April 2nd. Morgan Stanley increased their price target on IGM Biosciences from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 30th. Finally, Truist Financial decreased their price target on IGM Biosciences from $80.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, March 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, IGM Biosciences presently has an average rating of “Buy” and a consensus target price of $59.10.
Several large investors have recently bought and sold shares of the company. Artal Group S.A. boosted its position in shares of IGM Biosciences by 33.3% in the 1st quarter. Artal Group S.A. now owns 2,000,000 shares of the company’s stock worth $53,460,000 after purchasing an additional 500,000 shares during the last quarter. Pictet Asset Management SA boosted its position in shares of IGM Biosciences by 60.0% in the 4th quarter. Pictet Asset Management SA now owns 934,965 shares of the company’s stock worth $27,423,000 after purchasing an additional 350,618 shares during the last quarter. Vanguard Group Inc. raised its stake in IGM Biosciences by 100.0% during the 1st quarter. Vanguard Group Inc. now owns 830,077 shares of the company’s stock worth $22,188,000 after buying an additional 415,028 shares during the period. State Street Corp raised its stake in IGM Biosciences by 11.5% during the 4th quarter. State Street Corp now owns 731,720 shares of the company’s stock worth $21,461,000 after buying an additional 75,697 shares during the period. Finally, BlackRock Inc. raised its stake in IGM Biosciences by 2.6% during the 1st quarter. BlackRock Inc. now owns 694,824 shares of the company’s stock worth $18,573,000 after buying an additional 17,867 shares during the period. Institutional investors and hedge funds own 42.92% of the company’s stock.
IGM Biosciences Company Profile (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).
Receive News & Ratings for IGM Biosciences Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for IGM Biosciences and related companies with MarketBeat.com’s FREE daily email newsletter.