IGM Biosciences Inc’s filing revealed that its Director BAKER BROS. ADVISORS LP acquired Company’s shares for reported $0.94 million on Mar 28 ’24. In the deal valued at $9.62 per share,97,473 shares were bought. As a result of this transaction, BAKER BROS. ADVISORS LP now holds 3,753,480 shares worth roughly $37.27 million.
Then, BAKER BROS. ADVISORS LP bought 27,844 shares, generating $257,170 in total proceeds. Upon buying the shares at $9.24, the Director now owns 3,664,073 shares.
Before that, BAKER BROS. ADVISORS LP bought 270,000 shares. IGM Biosciences Inc shares valued at $2,230,767 were divested by the Director at a price of $8.26 per share. As a result of the transaction, BAKER BROS. ADVISORS LP now holds 3,638,533 shares, worth roughly $36.13 million.
RBC Capital Mkts upgraded its IGM Biosciences Inc [IGMS] rating to an Outperform from a a Sector perform in a research note published on February 09, 2024; the price target was increased to $21 from $9. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in mid December from “a Buy” to “a Neutral”. H.C. Wainwright also remained covering IGMS and has decreased its forecast on December 07, 2023 with a “Neutral” recommendation from previously “Buy” rating.
Price Performance Review of IGMS
On Tuesday, IGM Biosciences Inc [NASDAQ:IGMS] saw its stock fall -1.00% to $9.93. Over the last five days, the stock has gained 3.12%. IGM Biosciences Inc shares have risen nearly 19.49% since the year began. Nevertheless, the stocks have fallen -22.30% over the past one year. While a 52-week high of $17.70 was reached on 02/20/24, a 52-week low of $3.81 was recorded on 04/25/24. SMA at 50 days reached $9.80, while 200 days put it at $8.52. A total of 0.26 million shares were traded, compared to the trading of 0.18 million shares in the previous session.
Levels Of Support And Resistance For IGMS Stock
The 24-hour chart illustrates a support level at 9.75, which if violated will result in even more drops to 9.57. On the upside, there is a resistance level at 10.19. A further resistance level may holdings at 10.44. The Relative Strength Index (RSI) on the 14-day chart is 56.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.27, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.24%. Stochastics %K at 88.73% indicates the stock is a selling.
The most recent change occurred on October 17, 2022 when JP Morgan began covering the stock and recommended ‘”a Neutral”‘ rating along with a $27 price target.
