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Understanding IGM Biosciences Inc. (NASDAQ: IGMS)’s Growth Potential

IGM Biosciences Inc. (NASDAQ:IGMS) shares, rose in value on Friday, 05/13/22, with the stock price down by -1.09% to the previous day’s close as strong demand from buyers drove the stock to $14.56.

Actively observing the price movement in the last trading, the stock closed the session at $14.72, falling within a range of $14.14 and $15.72. The value of beta (5-year monthly) was -0.92. Referring to stock’s 52-week performance, its high was $99.44, and the low was $12.74. On the whole, IGMS has fluctuated by -30.30% over the past month.

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With the market capitalization of IGM Biosciences Inc. currently standing at about $623.02 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 28, 2022 – Apr 01, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$1.6, which is expected to increase to -$1.56 for fiscal year -$4.98 and then to about -$6.27 by fiscal year 2022. Data indicates that the EPS growth is expected to be -87.90% in 2022, while the next year’s EPS growth is forecast to be -25.90%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that IGMS’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IGMS currently trading nearly -17.31% and -20.72% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.70, while the 7-day volatility ratio is showing 15.41% which for the 30-day chart, stands at 10.93%. Furthermore, IGM Biosciences Inc. (IGMS)’s average true range (ATR) is 1.90.

Data on historical trading for IGM Biosciences Inc. (NASDAQ:IGMS) indicates that the trading volumes over the past 3 months, they’ve averaged 1.19 million. According to company’s latest data on outstanding shares, there are 33.78 million shares outstanding.

Nearly 1.10% of IGM Biosciences Inc.’s shares belong to company insiders and institutional investors own 65.80% of the company’s shares. The stock has fallen by -50.36% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IGMS stock heading into the next quarter.

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