IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Sells $18,416.27 in Stock

IGM Biosciences, Inc. (NASDAQ:IGMS) CEO Mary Beth Harler sold 14,501 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $1.27, for a total value of $18,416.27. Following the transaction, the chief executive officer owned 323,680 shares in the company, valued at $411,073.60. The trade was a 4.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mary Beth Harler also recently made the following trade(s):

• On Monday, June 16th, Mary Beth Harler sold 1,522 shares of IGM Biosciences stock. The stock was sold at an average price of $1.20, for a total value of $1,826.40.

IGM Biosciences Stock Performance

Shares of NASDAQ IGMS opened at $1.27 on Monday. IGM Biosciences, Inc. has a 52 week low of $0.92 and a 52 week high of $22.50. The stock has a market capitalization of $76.35 million, a P/E ratio of -0.39 and a beta of 0.48. The stock’s fifty day moving average is $1.26 and its 200 day moving average is $1.32.

IGM Biosciences (NASDAQ:IGMS) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.45). IGM Biosciences had a negative return on equity of 317.97% and a negative net margin of 7,417.79%. The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $4.25 million. Equities research analysts forecast that IGM Biosciences, Inc. will post -3.35 earnings per share for the current year.

Institutional Trading of IGM Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of IGM Biosciences during the 1st quarter worth $97,000. AQR Capital Management LLC bought a new stake in shares of IGM Biosciences during the 1st quarter worth $275,000. Nuveen LLC bought a new stake in shares of IGM Biosciences during the 1st quarter worth $52,000. Invesco Ltd. bought a new stake in shares of IGM Biosciences during the 1st quarter worth $42,000. Finally, Deutsche Bank AG lifted its position in shares of IGM Biosciences by 316.6% during the 1st quarter. Deutsche Bank AG now owns 46,773 shares of the company’s stock worth $54,000 after buying an additional 35,546 shares during the last quarter. 42.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut IGM Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, June 7th. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.50.

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.