Investors

Atom Investors LP Cuts Position in IGM Biosciences, Inc. (NASDAQ:IGMS)

IGM Biosciences logoAtom Investors LP decreased its holdings in IGM Biosciences, Inc. (NASDAQ:IGMS) by 17.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,407 shares of the company’s stock after selling 744 shares during the quarter. Atom Investors LP’s holdings in IGM Biosciences were worth $224,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in IGMS. Price T Rowe Associates Inc. MD increased its position in shares of IGM Biosciences by 10.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,986,071 shares of the company’s stock valued at $165,241,000 after buying an additional 189,760 shares in the last quarter. Artal Group S.A. increased its position in IGM Biosciences by 22.7% during the 3rd quarter. Artal Group S.A. now owns 1,350,000 shares of the company’s stock worth $88,776,000 after purchasing an additional 250,000 shares in the last quarter. Woodline Partners LP increased its position in IGM Biosciences by 73.1% during the 2nd quarter. Woodline Partners LP now owns 745,393 shares of the company’s stock worth $62,017,000 after purchasing an additional 314,710 shares in the last quarter. BlackRock Inc. increased its position in IGM Biosciences by 1.3% during the 3rd quarter. BlackRock Inc. now owns 640,737 shares of the company’s stock worth $42,134,000 after purchasing an additional 7,936 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in IGM Biosciences by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 409,803 shares of the company’s stock worth $34,096,000 after purchasing an additional 5,702 shares in the last quarter. Hedge funds and other institutional investors own 56.02% of the company’s stock.

A number of brokerages have issued reports on IGMS. Jefferies Financial Group raised their price target on IGM Biosciences from $101.00 to $126.00 and gave the stock a “buy” rating in a research note on Monday, December 13th. Royal Bank of Canada lowered IGM Biosciences from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $90.00 to $51.00 in a research note on Monday, December 13th. Robert W. Baird reduced their price target on IGM Biosciences from $90.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 14th. Zacks Investment Research upgraded IGM Biosciences from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, January 11th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $38.00 price target (down from $100.00) on shares of IGM Biosciences in a report on Tuesday, December 14th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $69.00.

Shares of IGM Biosciences stock opened at $17.76 on Friday. The stock’s fifty day moving average is $26.65 and its 200-day moving average is $51.81. The firm has a market capitalization of $576.53 million, a PE ratio of -4.21 and a beta of -0.91. IGM Biosciences, Inc. has a 12-month low of $15.72 and a 12-month high of $119.86.

About IGM Biosciences

IGM Biosciences, Inc, a biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of multiple diseases. Its lead product candidate is IGM-2323, a bispecific IgM antibody that is in Phase 1 clinical trials to treat patients with relapsed/refractory B cell Non-Hodgkin’s lymphoma (NHL).

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Want to see what other hedge funds are holding IGMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IGM Biosciences, Inc. (NASDAQ:IGMS).

Institutional Ownership by Quarter for IGM Biosciences (NASDAQ:IGMS)

IGM Biosciences, Inc, a biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of multiple diseases. Its lead product candidate is IGM-2323, a bispecific IgM antibody that is in Phase 1 clinical trials to treat patients with relapsed/refractory B cell Non-Hodgkin’s lymphoma (NHL).

Source: https://etfdailynews.com/news/atom-investors-lp-cuts-position-in-igm-biosciences-inc-nasdaqigms/

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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