During the last session, IGM Biosciences Inc. (NASDAQ:IGMS)’s traded shares were 0.2 million. At the end of the trading day, the stock’s price was $18.93, reflecting an intraday gain of 2.66% or $0.49. The 52-week high for the IGMS share is $86.91, that puts it down -359.11 from that peak though still a striking 33.07% gain since the share price plummeted to a 52-week low of $12.67. The company’s market capitalization is $885.92M, and the average intraday trading volume over the past 10 days was 0.13 million shares, and the average trade volume was 273.02K shares over the past three months.
IGM Biosciences Inc. (IGMS) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.70. IGMS has a Sell rating from 0 analyst(s) out of 9 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.94.
IGM Biosciences Inc. (NASDAQ:IGMS) trade information
IGM Biosciences Inc. (IGMS) registered a 2.66% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.66% in intraday trading to $18.93 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 17.50%, and it has moved by -9.12% in 30 days. Based on these gigs, the overall price performance for the year is -76.03%. The short interest in IGM Biosciences Inc. (NASDAQ:IGMS) is 3.28 million shares and it means that shorts have 12.82 day(s) to cover.
The consensus price target of analysts on Wall Street is $49.56, which implies an increase of 61.8% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $27.00 and $74.00 respectively. As a result, IGMS is trading at a discount of -290.91% off the target high and -42.63% off the low.
IGM Biosciences Inc. (IGMS) estimates and forecasts
Statistics show that IGM Biosciences Inc. has underperformed its competitors in share price, compared to the industry in which it operates. IGM Biosciences Inc. (IGMS) shares have gone up 11.35% during the last six months, with a year-to-date growth rate less than the industry average at -20.49% against 1.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 19.00% this quarter and then drop -8.30% in the quarter after that.
Revenue for the current quarter is expected to be $26.87 million as predicted by 6 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $1.61 million by the end of Sep 2022.
While earnings are projected to return -86.50% in 2022.
IGM Biosciences Inc. is due to release its next quarterly earnings between March 28 and April 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
IGM Biosciences Inc. (NASDAQ:IGMS)’s Major holders
IGM Biosciences Inc. insiders own 40.97% of total outstanding shares while institutional holders control 69.00%, with the float percentage being 116.90%. Redmile Group, LLC is the largest shareholder of the company, while 150 institutions own stock in it. As of Mar 30, 2022, the company held over 3.33 million shares (or 12.17% of all shares), a total value of $89.13 million in shares.
The next largest institutional holding, with 3.16 million shares, is of Baker Brothers Advisors, LLC’s that is approximately 11.52% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $84.36 million.
Also, the Mutual Funds coming in first place with the largest holdings of IGM Biosciences Inc. (IGMS) shares are Price (T.Rowe) New Horizons Fund and ACAP Strategic Fund. Data provided on Mar 30, 2022 indicates that Price (T.Rowe) New Horizons Fund owns about 1.03 million shares. This amounts to just over 3.74 percent of the company’s overall shares, with a $27.4 million market value. The same data shows that the other fund manager holds slightly less at 0.51 million, or about 1.85% of the stock, which is worth about $13.52 million.