IGM Biosciences, Inc. (NASDAQ:IGMS – Get Rating) insider Bruce Keyt sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $19.78, for a total transaction of $197,800.00. Following the sale, the insider now directly owns 39,489 shares of the company's stock, valued at approximately $781,092.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Bruce Keyt also recently made the following trade(s):
Get IGM Biosciences alerts:- On Tuesday, September 6th, Bruce Keyt sold 5,000 shares of IGM Biosciences stock. The stock was 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 stock was 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 Price Performance
Shares of NASDAQ IGMS traded up $0.06 during midday trading on Friday, reaching $21.32. 1,129 shares of the company traded hands, compared to its average volume of 188,887. IGM Biosciences, Inc. has a 52 week low of $12.67 and a 52 week high of $76.20. The stock has a 50-day moving average price of $19.98 and a 200 day moving average price of $18.41. The company has a market cap of $906.74 million, a price-to-earnings ratio of -3.74 and a beta of -0.32.
IGM Biosciences (NASDAQ:IGMS – Get Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported ($1.33) EPS for the quarter, topping the consensus estimate of ($1.44) by $0.11. The business had revenue of $0.37 million during the quarter, compared to the consensus estimate of $38.91 million. During the same quarter last year, the firm posted ($1.16) earnings per share. As a group, analysts expect that IGM Biosciences, Inc. will post -5.82 EPS for the current year.Analyst Upgrades and Downgrades
A number of equities analysts have commented on IGMS shares. Bank of America started coverage on shares of IGM Biosciences in a report on Monday, August 29th. They issued a "buy" rating and a $34.00 price objective for the company. HC Wainwright cut their target price on IGM Biosciences from $59.00 to $58.00 and set a "buy" rating on the stock in a research note on Tuesday, May 17th. Guggenheim cut their target price on IGM Biosciences to $40.00 in a research note on Monday, August 15th. Robert W. Baird cut their target price on IGM Biosciences from $46.00 to $31.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 1st. Finally, Truist Financial cut their target price on IGM Biosciences from $74.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, August 23rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, IGM Biosciences presently has an average rating of "Moderate Buy" and an average price target of $53.00.
Institutional Investors Weigh In On IGM Biosciences
Several hedge funds and other institutional investors have recently bought and sold shares of IGMS. Point72 Hong Kong Ltd bought a new stake in IGM Biosciences in the fourth quarter worth about $34,000. Amalgamated Bank bought a new stake in IGM Biosciences in the first quarter worth about $36,000. Captrust Financial Advisors bought a new stake in IGM Biosciences in the second quarter worth about $50,000. US Bancorp DE raised its position in IGM Biosciences by 608.4% in the first quarter. US Bancorp DE now owns 2,437 shares of the company's stock worth $65,000 after acquiring an additional 2,093 shares in the last quarter. Finally, American International Group Inc. raised its position in IGM Biosciences by 15.0% in the second quarter. American International Group Inc. now owns 4,684 shares of the company's stock worth $84,000 after acquiring an additional 612 shares in the last quarter. 41.20% of the stock is currently owned by institutional investors.
About IGM Biosciences
(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).
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