IGM Biosciences, Inc. (NASDAQ:IGMS) Director Bros. Advisors Lp Baker Buys 97,473 Shares

IGM Biosciences, Inc. (NASDAQ:IGMS) Director Bros. Advisors Lp Baker bought 97,473 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was bought at an average cost of $9.62 per share, with a total value of $937,690.26. Following the completion of the acquisition, the director now owns 3,753,480 shares in the company, valued at approximately $36,108,477.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, March 26th, Bros. Advisors Lp Baker bought 270,000 shares of IGM Biosciences stock. The stock was bought at an average cost of $8.26 per share, with a total value of $2,230,200.00.

IGM Biosciences Stock Performance

IGM Biosciences stock traded up $0.38 during trading hours on Thursday, reaching $9.65. 242,995 shares of the company’s stock traded hands, compared to its average volume of 294,796. IGM Biosciences, Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $17.78. The firm has a market capitalization of $567.32 million, a price-to-earnings ratio of -2.01 and a beta of 0.30. The firm’s 50 day moving average is $12.06 and its 200-day moving average is $8.57.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc increased its stake in shares of IGM Biosciences by 27.7% in the 3rd quarter. Ensign Peak Advisors Inc now owns 1,890 shares of the company’s stock valued at $43,000 after acquiring an additional 410 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of IGM Biosciences by 5.1% in the 3rd quarter. California State Teachers Retirement System now owns 12,429 shares of the company’s stock valued at $283,000 after acquiring an additional 606 shares during the last quarter. American International Group Inc. increased its stake in shares of IGM Biosciences by 15.0% in the 2nd quarter. American International Group Inc. now owns 4,684 shares of the company’s stock valued at $84,000 after acquiring an additional 612 shares during the last quarter. UBS Group AG increased its stake in shares of IGM Biosciences by 21.5% in the 1st quarter. UBS Group AG now owns 4,808 shares of the company’s stock valued at $66,000 after acquiring an additional 850 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of IGM Biosciences by 0.7% in the 4th quarter. Northern Trust Corp now owns 136,796 shares of the company’s stock valued at $1,137,000 after acquiring an additional 1,013 shares during 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.