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.Get IGM Biosciences alerts: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 BiosciencesIGM Biosciences Stock PerformanceNASDAQ: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 BiosciencesSeveral 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 (Get Free Report)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.Featured StoriesFive stocks we like better than IGM BiosciencesBasic Materials Stocks Investing3 Earnings Reports Give a Snapshot of Consumer SentimentEarnings Per Share Calculator: How to Calculate EPSAmazon’s Bears Have Raised the White Flag—Get ExcitedStock Ratings and Recommendations: Understanding Analyst RatingsTempus AI’s Strong Q2 Fuels Growth Story—More Upside Ahead?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in IGM Biosciences Right Now?Before you consider IGM Biosciences, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IGM Biosciences wasn't on the list.While IGM Biosciences currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here