IGM Biosciences, Inc. (IGMS) saw a significant decline in its stock price on January 13, 2025, closing at $1.77, down 15.07% from the previous close of $2.09. The stock opened at $2.07 and reached a high of $2.12 before plummeting to its lowest point of the day at $1.77. The trading volume was notably high at 1,577,223 shares, nearly five times the average daily volume, indicating heightened investor activi
IGM Biosciences, Inc. (IGMS) is experiencing a decline in its stock price today, likely due to the lingering effects of its recent strategic shift. The company announced on January 10, 2025, that it would halt the development of its Imvotamab and IGM-2644 treatments following unsatisfactory interim data from Phase 1b studies. This decision, coupled with a 73% workforce reduction, has raised concerns about t
IGM Biosciences, Inc. (IGMS) saw its stock plummet by 66.29% on January 10, 2025, closing at $2.09, a significant drop from the previous day's close of $6.20. The stock opened at $1.97 and fluctuated between a low of $1.87 and a high of $2.19, with an extraordinary trading volume of 5,706,826 shares, far exceeding the average daily volume of 232,700. This dramatic decline followed the company's announcement
IGM Biosciences has announced a strategic shift, halting the development of its Imvotamab and IGM-2644 treatments for autoimmune diseases. This decision follows interim data from Phase 1b studies that revealed insufficient B cell depletion in patients with rheumatoid arthritis and systemic lupus erythematosus. "Due to these findings, we have decided to discontinue further development of imvotamab," stated M
IGM Biosciences, Inc. shares are experiencing an uptick following the initiation of coverage by BMO Capital Markets. On December 6, 2024, BMO Capital Markets issued a research note to investors, assigning an "outperform" rating to IGM Biosciences and setting a price target of $21.00. This target suggests a potential upside of approximately 122% from the current stock price, indicating strong confidence in t
IGM Biosciences (IGMS) is experiencing a decline in its stock price following the company's announcement of a strategic pivot from cancer therapeutics to autoimmune diseases. This shift, which includes halting cancer trials and reducing its workforce, has raised concerns among investors about the unproven potential of T-cell engagers in autoimmune diseases. The frequent strategic pivots and the associated r
IGM Biosciences, Inc. (IGMS) is experiencing a notable surge in after-hours trading, driven by a short squeeze that has caught the attention of retail investors. Discussions on social media platforms highlight the stock's volatility, with some investors purchasing call options in anticipation of further upward movement. The stock's short interest, reportedly at 5.5 million shares out of a total float of 11.