IGM Biosciences, Inc. (NASDAQ:IGMS) Shares Bought by Quest Partners LLC

Quest Partners LLC increased its holdings in IGM Biosciences, Inc. (NASDAQ:IGMS) by 71.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,913 shares of the company’s stock after purchasing an additional 4,961 shares during the quarter. Quest Partners LLC’s holdings in IGM Biosciences were worth $82,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IGMS. Jacobs Levy Equity Management Inc. acquired a new position in shares of IGM Biosciences in the 1st quarter worth $758,000. Price T Rowe Associates Inc. MD increased its stake in IGM Biosciences by 19.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,888,023 shares of the company’s stock worth $37,520,000 after purchasing an additional 628,001 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in IGM Biosciences during the 4th quarter worth about $252,000. Susquehanna Fundamental Investments LLC purchased a new stake in IGM Biosciences during the first quarter valued at about $268,000. Finally, Pennant Investors LP acquired a new position in shares of IGM Biosciences in the fourth quarter worth about $539,000. 42.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at IGM Biosciences

In other news, Director Julie Hambleton sold 15,132 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $14.00, for a total value of $211,848.00. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at $28,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Julie Hambleton sold 15,132 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $14.00, for a total transaction of $211,848.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $28,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fred Schwarzer sold 3,946 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $11.54, for a total value of $45,536.84. Following the sale, the chief executive officer now owns 250,124 shares of the company’s stock, valued at approximately $2,886,430.96. The disclosure for this sale can be found here. Insiders have sold a total of 21,034 shares of company stock worth $279,957 over the last 90 days. Insiders own 57.00% of the company’s stock.

IGM Biosciences Trading Up 11.6 %

IGMS stock opened at $17.68 on Wednesday. The firm has a market cap of $1.04 billion, a PE ratio of -4.10 and a beta of 0.19. IGM Biosciences, Inc. has a 1 year low of $3.81 and a 1 year high of $22.50. The company has a fifty day simple moving average of $10.45 and a 200 day simple moving average of $9.39.

IGM Biosciences (NASDAQ:IGMS) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.97). IGM Biosciences had a negative return on equity of 119.02% and a negative net margin of 7,571.35%. The company had revenue of $1.25 million during the quarter, compared to analyst estimates of $51.75 million. As a group, analysts forecast that IGM Biosciences, Inc. will post -3.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of IGM Biosciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. HC Wainwright dropped their price target on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Wedbush restated an “outperform” rating and set a $25.00 price objective (up from $20.00) on shares of IGM Biosciences in a research report on Wednesday, August 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of IGM Biosciences in a report on Thursday, August 15th. Finally, Truist Financial decreased their price target on shares of IGM Biosciences from $25.00 to $24.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.63.

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.