A share of IGM Biosciences Inc. (NASDAQ:IGMS) closed at $22.10 per share on Wednesday, up from $21.18 day before. While IGM Biosciences Inc. has overperformed by 4.34%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, IGMS fell by -58.71%, with highs and lows ranging from $56.41 to $12.67, whereas the simple moving average jumped by 16.57% in the last 200 days.
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On November 09, 2022, Jefferies started tracking IGM Biosciences Inc. (NASDAQ: IGMS) recommending Buy. A report published by JP Morgan on October 17, 2022, Initiated its previous ‘Neutral’ rating for IGMS. BofA Securities also rated IGMS shares as ‘Buy’, setting a target price of $34 on the company’s shares in an initiating report dated August 29, 2022. Wedbush November 05, 2021d its ‘Neutral’ rating to ‘Outperform’ for IGMS, as published in its report on November 05, 2021. Morgan Stanley’s report from August 26, 2021 suggests a price prediction of $100 for IGMS shares, giving the stock a ‘Overweight’ rating. RBC Capital Mkts also rated the stock as ‘Outperform’.
Analysis of IGM Biosciences Inc. (IGMS)
IGM Biosciences Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -76.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 10.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and IGMS is registering an average volume of 219.12K. On a monthly basis, the volatility of the stock is set at 10.76%, whereas on a weekly basis, it is put at 10.98%, with a loss of -14.01% over the past seven days. Furthermore, long-term investors anticipate a median target price of $39.09, showing growth from the present price of $22.10, which can serve as yet another indication of whether IGMS is worth investing in or should be passed over.
How Do You Analyze IGM Biosciences Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 61.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in IGMS shares?
The recent increase in stakes in IGMS appears to be a result of several institutional investors and hedge funds increasing their positions. During the last quarter, the company picked up 0 additional shares for a total stake of worth $63.12 million, bringing number of shares owned by the company to 3,156,102.
During the first quarter, Invus Public Equities Advisors LL added a 450,000 position in IGMS. T. Rowe Price Associates, Inc. sold an additional -0.41 million shares in the last quarter, decreasing its holdings by -15.45%, now holding 2.22 million shares worth $44.36 million. At the end of the first quarter, Alkeon Capital Management LLC decreased its IGMS holdings by -7.00% and now holds 0.96 million IGMS shares valued at $19.23 million with the lessened 72422.0 shares during the period. IGMS shares are owned by institutional investors to the tune of 61.60% at present.