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IGM Biosciences, Inc. (NASDAQ:IGMS) shares rose 4.6% to $10.25 on Wednesday, trading 96% lower than the daily average. Analysts forecast growth for the company. The stock has a 50-day moving average of $8.43 and a market cap of $623.02 million. IGM reported earnings on November 13, 2021, with ($1.04) EPS for the quarter, surpassing the estimate of ($1.25) by $0.21. Institutional investors and hedge funds own 56.21% of the company’s stock.

A total of 11,893 shares changed hands during mid-day trading, with $9.78 being the stock’s closing price. Analysts have rated the stock “Hold” with an average price target of $16.60. The firm’s CEO sold 17,576 shares of the stock, which insiders have sold a total of 28,600 shares of company stock worth $164,181 in the last 90 days. In other news, Director Bros. Advisors Lp Baker purchased 87,316 shares at $5.96 per share.

IGM Biosciences, Inc. stock is up 9.1% with a two-hundred-day moving average price of $7.47 and a $623.02 million market cap. The company had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.73 million. It has a price-to-earnings ratio of -2.06 and a beta of 0.25. The stock is expected to post earnings of -4.88 per share for the current year

Institutional investors and hedge funds hold substantial stakes in IGM Biosciences, with RA Capital Management L.P. recently buying a new position in shares of the company, and Price T Rowe Associates Inc. MD lifting its holdings by 376,832 shares. IGM Biosciences, Inc. develops IgM antibodies for the treatment of cancer, infectious diseases, and autoimmune and inflammatory diseases. The company’s product candidate, including imvotamab (IGM-2323), is in Phase 2 clinical trials for the treatment of B cell non-Hodgkin’s lymphoma (NHL).



Read more: IGM Biosciences (NASDAQ:IGMS) Shares Up 4.6%