China Universal Asset Management Co. Ltd. Buys Shares of 7,226 IGM Biosciences, Inc. (NASDAQ:IGMS)

China Universal Asset Management Co. Ltd. bought a new stake in shares of IGM Biosciences, Inc. (NASDAQ:IGMS) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,226 shares of the company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in shares of IGM Biosciences by 8.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 74,612 shares of the company’s stock valued at $1,234,000 after buying an additional 5,683 shares in the last quarter. Barclays PLC grew its stake in shares of IGM Biosciences by 48.4% in the 3rd quarter. Barclays PLC now owns 21,554 shares of the company’s stock valued at $356,000 after buying an additional 7,027 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of IGM Biosciences in the 3rd quarter valued at approximately $149,000. State Street Corp grew its stake in shares of IGM Biosciences by 2.7% in the 3rd quarter. State Street Corp now owns 469,790 shares of the company’s stock valued at $7,770,000 after buying an additional 12,174 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of IGM Biosciences in the 2nd quarter valued at approximately $84,000. Hedge funds and other institutional investors own 42.79% of the company’s stock.

IGM Biosciences Stock Up 9.8 %

Shares of IGMS stock opened at $1.57 on Wednesday. IGM Biosciences, Inc. has a 12 month low of $1.37 and a 12 month high of $22.50. The firm has a market cap of $93.35 million, a PE ratio of -0.43 and a beta of 0.03. The stock has a 50 day moving average of $5.79 and a 200-day moving average of $10.22.

IGM Biosciences (NASDAQ:IGMS) last issued its quarterly earnings results on Friday, November 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.19). The business had revenue of $0.52 million for the quarter, compared to analyst estimates of $0.23 million. IGM Biosciences had a negative return on equity of 155.42% and a negative net margin of 7,534.03%. As a group, equities analysts predict that IGM Biosciences, Inc. will post -3.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on IGMS. JPMorgan Chase & Co. raised IGM Biosciences from an “underweight” rating to a “neutral” rating in a research note on Monday, January 13th. Wedbush reaffirmed a “neutral” rating and set a $3.00 target price (down previously from $22.00) on shares of IGM Biosciences in a research report on Friday, January 10th. Jefferies Financial Group reaffirmed a “hold” rating and set a $2.00 target price (down previously from $48.00) on shares of IGM Biosciences in a research report on Friday, January 10th. Morgan Stanley cut IGM Biosciences from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $12.00 to $2.00 in a research report on Friday, January 10th. Finally, Royal Bank of Canada cut IGM Biosciences from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $20.00 to $1.50 in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat, IGM Biosciences presently has an average rating of “Hold” and a consensus price target of $5.50.

IGM Biosciences Profile

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.