IGM Biosciences (NASDAQ:IGMS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of IGM Biosciences (NASDAQ:IGMS) to a hold rating in a research report report published on Saturday morning.

IGM Biosciences Stock Performance

IGMS opened at $1.27 on Friday. IGM Biosciences has a 52-week low of $0.92 and a 52-week high of $22.50. The stock has a market capitalization of $76.57 million, a PE ratio of -1.41 and a beta of 0.60. The stock’s 50 day moving average price is $1.27 and its 200-day moving average price is $1.27.

IGM Biosciences (NASDAQ:IGMS) last posted its earnings results on Thursday, July 31st. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $1.88. IGM Biosciences had a negative return on equity of 93.35% and a negative net margin of 36.81%. The firm had revenue of $143.62 million for the quarter, compared to analysts’ expectations of $3.20 million. Research analysts forecast that IGM Biosciences will post -3.35 EPS for the current fiscal year.

Institutional Investors Weigh In On IGM Biosciences

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of IGM Biosciences during the second quarter valued at approximately $203,000. Marshall Wace LLP bought a new stake in shares of IGM Biosciences during the second quarter valued at approximately $50,000. XTX Topco Ltd bought a new stake in shares of IGM Biosciences during the second quarter valued at approximately $30,000. Acadian Asset Management LLC bought a new stake in shares of IGM Biosciences during the first quarter valued at approximately $97,000. Finally, AQR Capital Management LLC bought a new stake in shares of IGM Biosciences during the first quarter valued at approximately $275,000. 42.79% of the stock is currently owned by institutional investors.

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.