IGM Biosciences (NASDAQ:IGMS) Shares Up 6.6%

IGM Biosciences (NASDAQ:IGMS)’s share price shot up 6.6% during mid-day trading on Monday . The stock traded as high as $19.51 and last traded at $18.39, 185,200 shares changed hands during trading. An increase of 32% from the average session volume of 140,646 shares. The stock had previously closed at $17.25.

Several brokerages recently issued reports on IGMS. Guggenheim began coverage on IGM Biosciences in a research report on Monday. They set a “buy” rating and a $30.00 price objective for the company. Piper Jaffray Companies began coverage on IGM Biosciences in a research report on Sunday. They set an “overweight” rating and a $26.00 price objective for the company. Stifel Nicolaus began coverage on IGM Biosciences in a research report on Monday. They set a “buy” rating and a $32.00 price objective for the company. Finally, Jefferies Financial Group began coverage on IGM Biosciences in a research report on Monday. They set a “buy” rating and a $25.00 price objective for the company.

In other IGM Biosciences news, Director Bros. Advisors Lp Baker purchased 3,144,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $50,304,000.00. Also, Director Jakob Haldor Topsoe purchased 1,285,475 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was acquired at an average price of $16.00 per share, with a total value of $20,567,600.00. Insiders acquired a total of 5,683,475 shares of company stock valued at $90,953,600 over the last quarter.

IGM Biosciences Company Profile (NASDAQ:IGMS)

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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