Fri Sep 20 11:39:17 UTC 2024: ## IGM Biosciences CFO Sells Shares, Company Posts Earnings Miss

**San Francisco, CA (MarketBeat News) -** IGM Biosciences, Inc. (NASDAQ:IGMS) CFO Misbah Tahir sold 1,487 shares of the company’s stock last Friday, September 13th, at an average price of $11.54, for a total of $17,159.98. Following the transaction, Tahir now owns 122,694 shares in IGM Biosciences, valued at approximately $1,415,888.76.

The transaction was disclosed in a legal filing with the Securities & Exchange Commission.

IGM Biosciences, a clinical-stage biotechnology company focused on developing immunoglobulin M (IgM) antibodies, released its earnings results on August 14th. The company reported a loss of $0.79 per share for the quarter, significantly missing analysts’ consensus estimates of $0.18. Revenue for the quarter came in at $1.25 million, falling short of analysts’ expectations of $51.75 million.

Despite the disappointing earnings, several hedge funds and institutional investors have recently shown interest in IGM Biosciences. Baker BROS. Advisors LP increased its holdings in the company by 10.8% during the first quarter, while Price T Rowe Associates Inc. MD grew its position by 19.3%. Other notable investors include Redmile Group LLC, TD Asset Management Inc., and Renaissance Technologies LLC.

IGM Biosciences currently has a market capitalization of $1.02 billion and is developing a range of IgM antibodies for the treatment of cancer, autoimmune diseases, and inflammatory disorders. The company’s stock opened at $17.23 on Friday, with a 52-week low of $3.81 and a 52-week high of $22.50.

**Investors and analysts will be closely watching IGM Biosciences in the coming months as the company continues to navigate the clinical development process for its various therapeutic candidates.**

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