IGM Biosciences, Inc. (NASDAQ:IGMS) Director Bros. Advisors Lp Baker Purchases 97,473 Shares

IGM Biosciences, Inc. (NASDAQ:IGMS) Director Bros. Advisors Lp Baker acquired 97,473 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was acquired at an average cost of $9.62 per share, for a total transaction of $937,690.26. Following the transaction, the director now owns 3,753,480 shares of the company’s stock, valued at approximately $36,108,477.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Bros. Advisors Lp Baker also recently made the following trade(s):

• On Tuesday, March 26th, Bros. Advisors Lp Baker acquired 270,000 shares of IGM Biosciences stock. The shares were bought at an average cost of $8.26 per share, for a total transaction of $2,230,200.00.

IGM Biosciences Stock Up 4.1 %

Shares of IGM Biosciences stock traded up $0.38 during trading on Thursday, hitting $9.65. 242,995 shares of the stock traded hands, compared to its average volume of 294,796. The stock has a market cap of $567.32 million, a price-to-earnings ratio of -2.01 and a beta of 0.30. The firm’s fifty day moving average is $12.06 and its 200-day moving average is $8.57. IGM Biosciences, Inc. has a 52 week low of $3.81 and a 52 week high of $17.78.

Hedge Funds Weigh In On IGM Biosciences

Several institutional investors have recently modified their holdings of IGMS. Lazard Asset Management LLC bought a new position in shares of IGM Biosciences during the 2nd quarter valued at about $26,000. Cubist Systematic Strategies LLC bought a new position in IGM Biosciences during the 1st quarter worth approximately $30,000. Nisa Investment Advisors LLC grew its position in IGM Biosciences by 7,258.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,900 shares of the company’s stock worth $32,000 after acquiring an additional 3,847 shares during the last quarter. Citigroup Inc. grew its position in IGM Biosciences by 370.7% during the 2nd quarter. Citigroup Inc. now owns 4,382 shares of the company’s stock worth $40,000 after acquiring an additional 3,451 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its position in IGM Biosciences by 27.7% during the 3rd quarter. Ensign Peak Advisors Inc now owns 1,890 shares of the company’s stock worth $43,000 after acquiring an additional 410 shares during the last quarter. 42.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IGMS. HC Wainwright cut IGM Biosciences from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $11.00 to $7.00 in a report on Thursday, December 7th. Bank of America cut IGM Biosciences from a “buy” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a report on Friday, December 15th. Finally, Royal Bank of Canada raised IGM Biosciences from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $9.00 to $21.00 in a report on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.80.

IGM Biosciences Company 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.