Shares of IGM Biosciences (NASDAQ:IGMS) have received a consensus rating of “Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $57.00.
A number of brokerages have recently commented on IGMS. Zacks Investment Research cut shares of IGM Biosciences from a “hold” rating to a “sell” rating in a report on Wednesday, March 11th. Wedbush began coverage on shares of IGM Biosciences in a report on Tuesday, April 21st. They issued an “outperform” rating on the stock. Piper Sandler lifted their target price on shares of IGM Biosciences from $53.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wolfe Research started coverage on shares of IGM Biosciences in a research report on Thursday, March 12th. They issued an “outperform” rating on the stock. Finally, SunTrust Banks started coverage on shares of IGM Biosciences in a research report on Thursday, May 28th. They issued a “buy” rating and a $86.00 price objective on the stock.
IGMS stock traded down $6.20 during midday trading on Friday, reaching $69.01. 439,701 shares of the company were exchanged, compared to its average volume of 114,045. The stock’s 50-day simple moving average is $61.91 and its 200 day simple moving average is $49.64. IGM Biosciences has a 1-year low of $16.10 and a 1-year high of $80.55. The company has a quick ratio of 28.17, a current ratio of 28.17 and a debt-to-equity ratio of 0.05.
A number of large investors have recently bought and sold shares of IGMS. Janus Henderson Group PLC boosted its position in shares of IGM Biosciences by 189.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,523,762 shares of the company’s stock worth $55,981,000 after purchasing an additional 997,235 shares in the last quarter. RA Capital Management L.P. boosted its position in shares of IGM Biosciences by 110.7% during the 4th quarter. RA Capital Management L.P. now owns 982,723 shares of the company’s stock worth $37,501,000 after purchasing an additional 516,355 shares in the last quarter. BlackRock Inc. boosted its position in shares of IGM Biosciences by 34.1% during the 1st quarter. BlackRock Inc. now owns 446,640 shares of the company’s stock worth $25,079,000 after purchasing an additional 113,561 shares in the last quarter. Cormorant Asset Management LP boosted its position in shares of IGM Biosciences by 172.4% during the 1st quarter. Cormorant Asset Management LP now owns 426,104 shares of the company’s stock worth $23,926,000 after purchasing an additional 269,704 shares in the last quarter. Finally, Vivo Capital LLC purchased a new stake in shares of IGM Biosciences during the 1st quarter worth $11,209,000. Hedge funds and other institutional investors own 43.30% of the company’s stock.
IGM Biosciences Company Profile
IGM Biosciences, Inc, a biotechnology company, engages in the research and development of engineered Immunoglobulin M (IgM) antibodies for the treatment of cancer patients. The company's lead product candidate is IGM-2323, a bispecific T cell engaging IgM antibody that completed preclinical trials for targeting CD20 and CD3 proteins for the treatment of relapsed/refractory B cell Non-Hodgkin's lymphoma.
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