Redmile Group LLC Has $18.04 Million Position in IGM Biosciences, Inc. (NASDAQ:IGMS)

Redmile Group LLC decreased its position in IGM Biosciences, Inc. (NASDAQ:IGMS) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,952,131 shares of the company’s stock after selling 120,347 shares during the quarter. IGM Biosciences makes up approximately 1.3% of Redmile Group LLC’s portfolio, making the stock its 23rd largest holding. Redmile Group LLC owned 4.96% of IGM Biosciences worth $18,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of IGMS. China Universal Asset Management Co. Ltd. bought a new position in IGM Biosciences in the 4th quarter worth $44,000. Barclays PLC boosted its stake in IGM Biosciences by 48.4% during the 3rd quarter. Barclays PLC now owns 21,554 shares of the company’s stock valued at $356,000 after purchasing an additional 7,027 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in IGM Biosciences in the 4th quarter valued at approximately $184,000. Susquehanna Fundamental Investments LLC acquired a new stake in IGM Biosciences in the 4th quarter valued at approximately $222,000. Finally, Renaissance Technologies LLC increased its position in IGM Biosciences by 14.0% in the 4th quarter. Renaissance Technologies LLC now owns 75,800 shares of the company’s stock worth $463,000 after buying an additional 9,300 shares during the period. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Price Performance

NASDAQ:IGMS opened at $1.14 on Thursday. IGM Biosciences, Inc. has a one year low of $0.92 and a one year high of $22.50. The company has a fifty day moving average price of $1.23 and a 200 day moving average price of $4.51. The stock has a market cap of $68.14 million, a P/E ratio of -0.31 and a beta of 0.61.

IGM Biosciences (NASDAQ:IGMS) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.45). The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $4.25 million. IGM Biosciences had a negative net margin of 7,534.03% and a negative return on equity of 155.42%. As a group, equities research analysts anticipate that IGM Biosciences, Inc. will post -3.35 EPS for the current year.

About IGM Biosciences

IGM Biosciences, Inc, a clinical-stage biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of cancer and autoimmune and inflammatory diseases. It develops Aplitabart, a Death Receptor 5 Agonist IgM antibody for the treatment of colorectal cancer; imvotamab, a CD20 x CD3 bispecific IgM antibody to treat myositis, as well as for the treatment of systemic lupus erythematosus and rheumatoid arthritis that is Phase Ib clinical trial; and IGM-2644, a bispecific T cell engaging IgM antibody targeting CD38 and CD3 proteins for the treatment of autoimmune diseases.