Bruce Keyt Sells 1,254 Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) Stock

IGM Biosciences, Inc. (NASDAQ:IGMS) insider Bruce Keyt sold 1,254 shares of the company’s stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $82.00, for a total transaction of $102,828.00. Following the sale, the insider now directly owns 5,269 shares in the company, valued at approximately $432,058. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bruce Keyt also recently made the following trade(s):

  • On Tuesday, March 2nd, Bruce Keyt sold 1,619 shares of IGM Biosciences stock. The shares were sold at an average price of $90.25, for a total transaction of $146,114.75.
  • On Wednesday, February 3rd, Bruce Keyt sold 1,619 shares of IGM Biosciences stock. The shares were sold at an average price of $96.00, for a total transaction of $155,424.00.

NASDAQ:IGMS traded up $0.11 on Wednesday, hitting $82.19. The stock had a trading volume of 116,308 shares, compared to its average volume of 196,189. The stock has a market cap of $2.52 billion, a P/E ratio of -34.97 and a beta of -1.12. IGM Biosciences, Inc. has a 1 year low of $41.41 and a 1 year high of $133.00. The firm’s fifty day simple moving average is $85.08 and its two-hundred day simple moving average is $80.21.

IGM Biosciences (NASDAQ:IGMS) last posted its quarterly earnings data on Monday, March 29th. The company reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.05). Research analysts expect that IGM Biosciences, Inc. will post -2.71 EPS for the current fiscal year.

IGMS has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of IGM Biosciences from a “hold” rating to a “sell” rating in a research report on Friday, April 2nd. Wedbush lowered shares of IGM Biosciences from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $77.00 in a report on Tuesday, December 22nd. Truist upped their price objective on shares of IGM Biosciences from $86.00 to $119.00 in a report on Wednesday, March 31st. Royal Bank of Canada began coverage on shares of IGM Biosciences in a report on Friday, January 29th. They set an “outperform” rating and a $121.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating on shares of IGM Biosciences in a report on Wednesday, March 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. IGM Biosciences currently has an average rating of “Buy” and an average price target of $99.33.

Several institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of IGM Biosciences by 53.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,328,784 shares of the company’s stock valued at $117,318,000 after acquiring an additional 460,573 shares during the period. Artal Group S.A. grew its position in shares of IGM Biosciences by 74.2% during the 4th quarter. Artal Group S.A. now owns 1,200,000 shares of the company’s stock valued at $105,948,000 after acquiring an additional 511,090 shares during the period. BlackRock Inc. grew its position in shares of IGM Biosciences by 58.3% during the 4th quarter. BlackRock Inc. now owns 721,354 shares of the company’s stock valued at $63,688,000 after acquiring an additional 265,714 shares during the period. State Street Corp grew its position in shares of IGM Biosciences by 7.5% during the 3rd quarter. State Street Corp now owns 329,166 shares of the company’s stock valued at $24,296,000 after acquiring an additional 23,050 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in shares of IGM Biosciences by 183.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 298,950 shares of the company’s stock valued at $26,394,000 after acquiring an additional 193,331 shares during the period. 47.60% of the stock is owned by hedge funds and other institutional investors.

About IGM Biosciences

IGM Biosciences, Inc, a biotechnology company, engages in the research and development of Immunoglobulin M (IgM) antibodies for the treatment of cancer. The company's lead product candidate is IGM-2323, a bispecific IgM antibody that is in Phase 1 clinical trials to treat patients with B cell NHL and other B cell malignancies.

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