Piper Jaffray Companies began coverage on shares of IGM Biosciences (NASDAQ:IGMS) in a research report sent to investors on Sunday morning, BenzingaRatingsTable reports. The firm issued an overweight rating and a $26.00 price objective on the stock.
Shares of NASDAQ:IGMS traded up $1.14 during mid-day trading on Friday, hitting $18.39. 185,200 shares of the company traded hands, compared to its average volume of 140,644. IGM Biosciences has a 52-week low of $16.10 and a 52-week high of $24.57.
In other IGM Biosciences news, Director Bros. Advisors Lp Baker acquired 3,144,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $50,304,000.00. Also, major shareholder Topsoe Holding A/S Haldor acquired 1,250,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $20,000,000.00. Insiders have acquired a total of 5,683,475 shares of company stock worth $90,953,600 over the last 90 days.
IGM Biosciences, Inc, a biotechnology company, engages in the research and development of engineered Immunoglobulin M (IgM) antibodies for the treatment of cancer patients. The company's lead product candidate is IGM-2323, a bispecific T cell engaging IgM antibody that completed preclinical trials for targeting CD20 and CD3 proteins for the treatment of relapsed/refractory B cell Non-Hodgkin's lymphoma.
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