IGM Biosciences, Inc. (NASDAQ:IGMS) Director Bros. Advisors Lp Baker Buys 270,000 Shares

IGM Biosciences, Inc. (NASDAQ:IGMS) Director Bros. Advisors Lp Baker purchased 270,000 shares of IGM Biosciences stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of $8.26 per share, with a total value of $2,230,200.00. Following the completion of the acquisition, the director now owns 3,638,533 shares in the company, valued at $30,054,282.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Bros. Advisors Lp Baker also recently made the following trade(s):

• On Thursday, March 28th, Bros. Advisors Lp Baker purchased 97,473 shares of IGM Biosciences stock. The stock was bought at an average cost of $9.62 per share, with a total value of $937,690.26.

IGM Biosciences Stock Up 4.1 %

IGMS stock traded up $0.38 during midday trading on Thursday, reaching $9.65. The stock had a trading volume of 242,995 shares, compared to its average volume of 294,796. The business has a fifty day simple moving average of $12.06 and a two-hundred day simple moving average of $8.57. The firm has a market cap of $567.32 million, a price-to-earnings ratio of -2.01 and a beta of 0.30. IGM Biosciences, Inc. has a twelve month low of $3.81 and a twelve month high of $17.78.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada raised shares of IGM Biosciences from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $9.00 to $21.00 in a report on Friday, February 9th. Bank of America lowered IGM Biosciences from a “buy” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note on Friday, December 15th. Finally, HC Wainwright lowered IGM Biosciences from a “buy” rating to a “neutral” rating and lowered their target price for the company from $11.00 to $7.00 in a research note on Thursday, December 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.80.

Hedge Funds Weigh In On IGM Biosciences

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of IGM Biosciences by 127.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,040,509 shares of the company’s stock valued at $8,647,000 after purchasing an additional 583,516 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in IGM Biosciences by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,260,022 shares of the company’s stock valued at $27,091,000 after acquiring an additional 17,307 shares in the last quarter. Exome Asset Management LLC bought a new stake in IGM Biosciences in the 4th quarter valued at approximately $1,127,000. Virtus ETF Advisers LLC lifted its stake in IGM Biosciences by 43.7% in the 4th quarter. Virtus ETF Advisers LLC now owns 14,243 shares of the company’s stock valued at $118,000 after acquiring an additional 4,334 shares in the last quarter. Finally, Barclays PLC lifted its stake in IGM Biosciences by 234.9% in the 4th quarter. Barclays PLC now owns 24,570 shares of the company’s stock valued at $204,000 after acquiring an additional 17,233 shares in the last quarter. 42.79% of the stock is currently owned by institutional investors and hedge funds.

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.