Chris H. Takimoto Sells 1,259 Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) Stock

IGM Biosciences, Inc. (NASDAQ:IGMS – Get Rating) insider Chris H. Takimoto sold 1,259 shares of IGM Biosciences stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $12.31, for a total transaction of $15,498.29. Following the transaction, the insider now owns 54,742 shares in the company, valued at approximately $673,874.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

IGM Biosciences Stock Performance

Shares of IGM Biosciences stock traded down $0.09 during trading hours on Friday, reaching $11.35. The company’s stock had a trading volume of 11,190 shares, compared to its average volume of 218,297. The firm has a 50 day moving average price of $12.75 and a 200-day moving average price of $18.07. IGM Biosciences, Inc. has a one year low of $9.74 and a one year high of $28.20.

IGM Biosciences (NASDAQ:IGMS – Get Rating) last posted its earnings results on Thursday, March 30th. The company reported ($1.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.53) by $0.34. IGM Biosciences had a negative net margin of 14,363.10% and a negative return on equity of 74.30%. The firm had revenue of $0.37 million for the quarter, compared to the consensus estimate of $15.27 million. During the same period in the previous year, the firm posted ($1.50) EPS. On average, equities research analysts forecast that IGM Biosciences, Inc. will post -5.96 EPS for the current fiscal year.

Hedge Funds Weigh In On IGM Biosciences

A number of large investors have recently made changes to their positions in IGMS. Swiss National Bank boosted its stake in shares of IGM Biosciences by 8.8% during the 1st quarter. Swiss National Bank now owns 18,500 shares of the company’s stock worth $495,000 after purchasing an additional 1,500 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of IGM Biosciences by 54.7% during the 1st quarter. JPMorgan Chase & Co. now owns 11,632 shares of the company’s stock worth $312,000 after purchasing an additional 4,115 shares during the period. Raymond James & Associates boosted its stake in shares of IGM Biosciences by 90.8% during the 1st quarter. Raymond James & Associates now owns 40,067 shares of the company’s stock worth $1,071,000 after purchasing an additional 19,067 shares during the period. US Bancorp DE boosted its stake in shares of IGM Biosciences by 608.4% during the 1st quarter. US Bancorp DE now owns 2,437 shares of the company’s stock worth $65,000 after purchasing an additional 2,093 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of IGM Biosciences by 16.5% during the 1st quarter. Rhumbline Advisers now owns 9,222 shares of the company’s stock worth $247,000 after purchasing an additional 1,308 shares during the period. 41.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. HC Wainwright decreased their price objective on shares of IGM Biosciences from $45.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, April 3rd. JPMorgan Chase & Co. decreased their price objective on shares of IGM Biosciences from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, April 3rd. Morgan Stanley decreased their price objective on shares of IGM Biosciences from $30.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, April 3rd. Guggenheim decreased their price objective on shares of IGM Biosciences from $40.00 to $38.00 in a research report on Monday, May 15th. Finally, Royal Bank of Canada decreased their price objective on shares of IGM Biosciences from $21.00 to $17.00 in a research report on Monday, May 15th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IGM Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $29.78.

About IGM Biosciences

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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).