IGM Biosciences (NASDAQ:IGMS) Stock Rating Lowered by Wall Street Zen

IGM Biosciences (NASDAQ:IGMS) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

IGM Biosciences Stock Performance

IGMS opened at $1.32 on Friday. The company has a market cap of $78.90 million, a PE ratio of -0.36 and a beta of 0.52. The stock has a 50-day moving average of $1.22 and a 200-day moving average of $2.96. IGM Biosciences has a 52-week low of $0.92 and a 52-week high of $22.50.

IGM Biosciences (NASDAQ:IGMS) last posted its earnings results on Tuesday, May 13th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.45). IGM Biosciences had a negative return on equity of 155.42% and a negative net margin of 7,534.03%. The company had revenue of $0.50 million during the quarter, compared to analyst estimates of $4.25 million. On average, research analysts predict that IGM Biosciences will post -3.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IGMS. Charles Schwab Investment Management Inc. boosted its holdings in IGM Biosciences by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 157,843 shares of the company’s stock valued at $964,000 after acquiring an additional 9,441 shares during the period. Geode Capital Management LLC lifted its position 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 worth $2,501,000 after purchasing an additional 13,334 shares during the last quarter. Renaissance Technologies LLC lifted its position 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 worth $463,000 after purchasing an additional 9,300 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in IGM Biosciences during the 4th quarter valued at approximately $222,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in IGM Biosciences in the 4th quarter valued at approximately $184,000. Institutional investors own 42.79% of the company’s stock.

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.