IGM Biosciences (NASDAQ:IGMS) Announces Quarterly Earnings Results

IGM Biosciences (NASDAQ:IGMS) issued its quarterly earnings data on Thursday. The company reported ($2.41) EPS for the quarter, missing the consensus estimate of ($1.09) by ($1.32), Zacks reports.

IGMS traded up $0.53 during trading on Friday, hitting $23.88. The company’s stock had a trading volume of 95,100 shares, compared to its average volume of 102,268. IGM Biosciences has a twelve month low of $16.10 and a twelve month high of $25.13. The business’s fifty day moving average price is $20.09.

IGMS has been the topic of several research analyst reports. Guggenheim initiated coverage on IGM Biosciences in a report on Monday, October 14th. They issued a “buy” rating and a $30.00 price objective on the stock. Stifel Nicolaus initiated coverage on IGM Biosciences in a report on Monday, October 14th. They issued a “buy” rating and a $32.00 price objective on the stock. Jefferies Financial Group initiated coverage on IGM Biosciences in a report on Monday, October 14th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, Piper Jaffray Companies initiated coverage on IGM Biosciences in a report on Sunday, October 13th. They issued an “overweight” rating and a $26.00 price objective on the stock.

In other news, Director Jakob Haldor Topsoe purchased 4,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average cost of $20.50 per share, with a total value of $82,000.00. Also, major shareholder Topsoe Holding A/S Haldor purchased 1,250,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $20,000,000.00. Over the last three months, insiders acquired 5,683,475 shares of company stock worth $90,953,600.

IGM Biosciences Company Profile

IGM Biosciences, Inc, a biotechnology company, engages in the research and development of engineered Immunoglobulin M (IgM) antibodies for the treatment of cancer patients. The company's lead product candidate is IGM-2323, a bispecific T cell engaging IgM antibody that completed preclinical trials for targeting CD20 and CD3 proteins for the treatment of relapsed/refractory B cell Non-Hodgkin's lymphoma.

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