IGM Biosciences, Inc. (NASDAQ:IGMS – Get Rating) insider Bruce Keyt sold 10,000 shares of IGM Biosciences stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $19.78, for a total transaction of $197,800.00. Following the sale, the insider now owns 39,489 shares of the company's stock, valued at $781,092.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Bruce Keyt also recently made the following trade(s):

• On Tuesday, September 6th, Bruce Keyt sold 5,000 shares of IGM Biosciences stock. The shares were sold at an average price of $19.06, for a total transaction of $95,300.00.
• On Friday, August 19th, Bruce Keyt sold 8,700 shares of IGM Biosciences stock. The shares were sold at an average price of $22.82, for a total transaction of $198,534.00.
• On Monday, August 22nd, Bruce Keyt sold 6,300 shares of IGM Biosciences stock. The stock was sold at an average price of $20.71, for a total transaction of $130,473.00.

IGM Biosciences Stock Performance

IGMS stock opened at $21.25 on Friday. The stock has a market capitalization of $903.76 million, a P/E ratio of -3.74 and a beta of -0.32. IGM Biosciences, Inc. has a one year low of $12.67 and a one year high of $76.20. The company has a 50 day moving average price of $20.04 and a two-hundred day moving average price of $18.47.

Hedge Funds Weigh In On IGM Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new position in shares of IGM Biosciences during the 4th quarter valued at $34,000. Amalgamated Bank acquired a new position in IGM Biosciences in the 1st quarter worth $36,000. US Bancorp DE lifted its holdings in IGM Biosciences by 608.4% in the 1st quarter. US Bancorp DE now owns 2,437 shares of the company's stock worth $65,000 after buying an additional 2,093 shares in the last quarter. Captrust Financial Advisors acquired a new position in IGM Biosciences in the 2nd quarter worth $50,000. Finally, American International Group Inc. lifted its holdings in IGM Biosciences by 15.0% in the 2nd quarter. American International Group Inc. now owns 4,684 shares of the company's stock worth $84,000 after buying an additional 612 shares in the last quarter. Institutional investors and hedge funds own 41.20% of the company's stock.

Wall Street Analysts Forecast Growth

IGMS has been the subject of a number of recent research reports. Guggenheim dropped their price objective on shares of IGM Biosciences to $40.00 in a research note on Monday, August 15th. Bank of America initiated coverage on shares of IGM Biosciences in a research note on Monday, August 29th. They set a "buy" rating and a $34.00 price objective for the company. HC Wainwright dropped their price objective on shares of IGM Biosciences from $59.00 to $58.00 and set a "buy" rating for the company in a research note on Tuesday, May 17th. Truist Financial dropped their price objective on shares of IGM Biosciences from $74.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, August 23rd. Finally, Robert W. Baird lowered their target price on shares of IGM Biosciences from $46.00 to $31.00 and set an "outperform" rating for the company in a research note on Wednesday, June 1st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

IGM Biosciences Company Profile

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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).

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