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IGM Biosciences Inc. (NASDAQ:IGMS) 42.67% Above Its 52-Week Low, How Long Will It Keep Rising?

In last trading session, IGM Biosciences Inc. (NASDAQ:IGMS) saw 0.22 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $22.10 trading at $0.92 or 4.34% at ring of the bell on the day assigns it a market valuation of $986.77M. That closing price of IGMS’s stock is at a discount of -155.25% from its 52-week high price of $56.41 and is indicating a premium of 42.67% from its 52-week low price of $12.67. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.4 million shares which gives us an average trading volume of 219.12K if we extend that period to 3-months.

IGM Biosciences Inc. (NASDAQ:IGMS) trade information

Upright in the green during last session for gaining 4.34%, in the last five days IGMS remained trading in the red while hitting it’s week-highest on Thursday, 11/17/22 when the stock touched $22.10 price level, adding 12.37% to its value on the day. IGM Biosciences Inc.’s shares saw a change of -24.65% in year-to-date performance and have moved -14.01% in past 5-day. IGM Biosciences Inc. (NASDAQ:IGMS) showed a performance of 14.15% in past 30-days. Number of shares sold short was 3.45 million shares which calculate 17.15 days to cover the short interests.

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IGM Biosciences Inc. (IGMS) estimates and forecasts

Statistics highlight that IGM Biosciences Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company added 41.39% of value to its shares in past 6 months, showing an annual growth rate of -16.23% while that of industry is 4.60. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -8.30% in the current quarter and calculating 15.30% increase in the next quarter.

9 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $250k for the same. And 8 analysts are in estimates of company making revenue of $280k in the next quarter that will end on Dec 2022.

IGMS Dividends

IGM Biosciences Inc. is more likely to be releasing its next quarterly report between November 02 and November 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

IGM Biosciences Inc. (NASDAQ:IGMS)’s Major holders

Insiders are in possession of 38.62% of company’s total shares while institution are holding 62.98 percent of that, with stock having share float percentage of 102.61%. Investors also watch the number of corporate investors in a company very closely, which is 62.98% institutions for IGM Biosciences Inc. that are currently holding shares of the company. Redmile Group, LLC is the top institutional holder at IGMS for having 3.33 million shares of worth $60.12 million. And as of Jun 29, 2022, it was holding 11.51% of the company’s outstanding shares.

The second largest institutional holder is Baker Brothers Advisors, LLC, which was holding about 3.16 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 10.89% of outstanding shares, having a total worth of $56.9 million.

On the other hand, Price (T.Rowe) New Horizons Fund and ACAP Strategic Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 1.06 million shares of worth $19.12 million or 3.66% of the total outstanding shares. The later fund manager was in possession of 0.51 million shares on Jun 29, 2022, making its stake of worth around $9.12 million in the company or a holder of 1.75% of company’s stock.

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