IGM Biosciences (NASDAQ:IGMS) has earned a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus price objective of $44.25 for the company and are anticipating that the company will post ($0.36) earnings per share for the current quarter, according to Zacks. Zacks has also given IGM Biosciences an industry rank of 72 out of 255 based on the ratings given to related companies.

IGMS has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of IGM Biosciences from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus upped their target price on shares of IGM Biosciences from to and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Piper Jaffray Companies upped their target price on shares of IGM Biosciences from $26.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, January 6th.

Shares of IGMS stock traded down $2.09 on Tuesday, reaching $43.24. The stock had a trading volume of 167,340 shares. The stock’s 50-day moving average price is $37.56. IGM Biosciences has a 12 month low of $16.10 and a 12 month high of $57.42.

In related news, Director M Kathleen Behrens purchased 20,000 shares of the stock in a transaction on Monday, December 9th. The shares were purchased at an average cost of $24.87 per share, with a total value of $497,400.00. Following the acquisition, the director now directly owns 62,500 shares in the company, valued at $1,554,375. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in shares of IGM Biosciences during the 4th quarter worth approximately $29,000. Citigroup Inc. bought a new position in shares of IGM Biosciences during the fourth quarter valued at $38,000. Victory Capital Management Inc. bought a new position in shares of IGM Biosciences during the fourth quarter valued at $42,000. Strs Ohio bought a new position in shares of IGM Biosciences during the fourth quarter valued at $49,000. Finally, American International Group Inc. bought a new position in shares of IGM Biosciences during the fourth quarter valued at $118,000. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

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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