IGM Biosciences, Inc. (NASDAQ:IGMS) Given Average Rating of "Reduce" by Analysts

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS - Get Free Report) have been assigned a consensus rating of "Reduce" from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $5.50.

Separately, Wall Street Zen lowered shares of IGM Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, June 7th.

Check Out Our Latest Stock Analysis on IGM Biosciences

IGM Biosciences Stock Performance

NASDAQ:IGMS opened at $1.27 on Thursday. IGM Biosciences has a 52 week low of $0.92 and a 52 week high of $22.50. The firm has a market cap of $76.57 million, a price-to-earnings ratio of -1.41 and a beta of 0.60. The firm's 50-day simple moving average is $1.27 and its 200 day simple moving average is $1.28.

IGM Biosciences (NASDAQ:IGMS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.58 EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $1.88. IGM Biosciences had a negative return on equity of 93.35% and a negative net margin of 36.81%. The business had revenue of $143.62 million during the quarter, compared to the consensus estimate of $3.20 million. Sell-side analysts anticipate that IGM Biosciences will post -3.35 EPS for the current year.

Hedge Funds Weigh In On IGM Biosciences

Several hedge funds have recently bought and sold shares of IGMS. Sanofi bought a new stake in shares of IGM Biosciences during the 4th quarter valued at approximately $8,792,000. Two Sigma Investments LP grew its holdings in shares of IGM Biosciences by 196.7% during the 4th quarter. Two Sigma Investments LP now owns 107,620 shares of the company's stock valued at $658,000 after purchasing an additional 71,343 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of IGM Biosciences by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 409,133 shares of the company's stock valued at $2,501,000 after purchasing an additional 13,334 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of IGM Biosciences by 14.0% during the 4th quarter. Renaissance Technologies LLC now owns 75,800 shares of the company's stock valued at $463,000 after purchasing an additional 9,300 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of IGM Biosciences during the 4th quarter valued at approximately $222,000. 42.79% of the stock is owned by institutional investors.

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.

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