IGM Biosciences (IGMS) AI Stock Analysis

• Market Cap: $76.95M
• Dividend Yield: N/A
• Average Volume (3M): 910.31K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.94
• Revenue Growth: 27.36%
• EPS Growth: 23.82%
• Country: US
• Employees: 149
• Sector: Healthcare
• Sector Strength: 37
• Industry: Biotechnology
• EPS (TTM): -0.38
• Shares Outstanding: 34,728,092
• 10 Day Avg. Volume: 447,656
• 30 Day Avg. Volume: 910,313
• PEG Ratio: 0.45
• Price to Book (P/B): 118.73
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.56
• Enterprise Value/Market Cap: 1.15
• Enterprise Value/Revenue: 7.89
• Enterprise Value/Gross Profit: -45.29
• Enterprise Value/Ebitda: -0.11
• 1Y Price Target: $1.25
• Price Target Upside: -2.34% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 2

• Rating: 46 Neutral
• Price Target: $1.00 ▼(-21.88%Downside)

IGM Biosciences' overall stock score is primarily affected by its weak financial performance and valuation challenges, offset by mixed technical indicators and corporate events. The merger with Concentra provides a potential uplift, but non-compliance with Nasdaq and operational risks remain significant concerns.

Positive Factors

Business Priority

The collaboration with SNY focused on the exclusive development of IgM agonist antibodies against inflammatory and autoimmune targets remains a top business priority and is making progress.

Strategic Collaboration

The ongoing collaboration with Sanofi on a different IGM molecule is still active and may generate potential future milestones or royalties.

Negative Factors

Clinical Program Discontinuation

The company discontinued all clinical development of its autoimmune franchise due to insufficient efficacy in meeting the required benchmarks.

Stock Price Target Downgrade

Reducing price target to $2 from $12 previously due to the removal of revenues for imvotamab and IGM-2644 from the model.

Workforce Reduction

A significant reduction in workforce by 73% was implemented to preserve cash resources.

IGM Biosciences Business Overview & Revenue Model

Company Description

IGM Biosciences, Inc. (IGMS) is a biotechnology company that focuses on the development of engineered therapeutic antibodies for the treatment of cancer. Operating in the healthcare and biotechnology sectors, IGM Biosciences is dedicated to leveraging its proprietary IgM antibody technology platform to create and advance a pipeline of innovative therapies aimed at providing impactful treatment options for patients with serious diseases.

How the Company Makes Money

IGM Biosciences generates revenue primarily through research and development collaborations, licensing agreements, and milestone payments related to its proprietary IgM antibody technology. The company partners with other pharmaceutical and biotech firms to co-develop and commercialize its drug candidates, which can lead to upfront payments, milestone-based payments, and royalties on sales of successfully marketed products. Additionally, IGM may engage in government or private sector grants and funding initiatives to support its R&D activities. However, as a clinical-stage biotechnology company, it might not yet have significant revenue from product sales until its therapies receive regulatory approval and reach the market.

IGM Biosciences Financial Statement Overview

Summary

IGM Biosciences faces significant financial challenges, with negative profitability and high leverage. The company's cash flows are consistently negative, indicating a reliance on external financing, and the balance sheet reflects significant financial risks.

Income Statement

IGM Biosciences shows consistent revenue growth, albeit from a low base, with a 25.8% increase from 2023 to 2024. However, the company struggles with profitability, evidenced by negative gross profit margins and net profit margins across the periods. The significant negative EBIT and EBITDA margins further highlight operational challenges, indicating inefficiencies and high operational costs relative to revenue.

Balance Sheet

The balance sheet reveals a highly leveraged position with a debt-to-equity ratio that is concerning, especially when considering the negative stockholders' equity in past periods. The company has a low equity ratio, reflecting dependency on debt financing. The negative return on equity in the past underscores profitability challenges, although this metric is less meaningful given the negative equity values.

Cash Flow

Free cash flows have been consistently negative, indicating ongoing cash burn. The operating cash flow to net income ratio is negative, suggesting that cash operations are not supporting net income. Despite capital inflow from financing activities, the reliance on external funding to sustain operations is a potential risk factor.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.68M	2.13M	1.07M	0.00	0.00
Gross Profit	-6.43M	-6.15M	-9.53M	-7.72M	-3.58M
EBITDA	-199.47M	-255.18M	-221.88M	-157.44M	-77.78M
Net Income	-195.79M	-246.42M	-214.25M	-160.68M	-80.33M
Balance Sheet
Total Assets	265.71M	423.41M	513.50M	298.13M	408.63M
Cash, Cash Equivalents and Short-Term Investments	183.79M	337.68M	427.16M	229.54M	366.27M
Total Debt	45.19M	40.51M	41.17M	28.76M	12.24M
Total Liabilities	217.54M	220.18M	226.24M	53.22M	26.82M
Stockholders Equity	48.17M	203.23M	-574.83M	-353.72M	-188.56M
Cash Flow
Free Cash Flow	-158.85M	-204.61M	-16.06M	-137.58M	-84.81M
Operating Cash Flow	-153.00M	-192.23M	-5.85M	-124.34M	-67.30M
Investing Cash Flow	64.16M	68.36M	-225.64M	14.82M	57.71M
Financing Cash Flow	2.39M	115.07M	219.38M	2.48M	214.78M

IGM Biosciences Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.28
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IGMS, the sentiment is Negative. The current price of 1.28 is below the 20-day moving average (MA) of 1.29, above the 50-day MA of 1.25, and below the 200-day MA of 4.63, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 50.26 is Neutral, neither overbought nor oversold. The STOCH value of 15.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IGMS.

IGM Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MGX	57 Neutral	$93.83M	―	-31.93%	―	-4.22%	18.67%
IPA	54 Neutral	$105.72M	―	-121.65%	―	-0.71%	-169.29%
Sector *	52 Neutral	$7.61B	0.10	-63.03%	2.08%	16.34%	0.32%
IGMS	46 Neutral	$76.95M	―	-245.59%	―	27.36%	23.82%
ADAG	44 Neutral	$93.75M	―	-55.14%	―	-99.43%	-69.40%
SRZN	43 Neutral	$75.56M	―	-456.32%	―	―	0.13%
ANRO	42 Neutral	$83.38M	―	-38.04%	―	―	―

IGM Biosciences Corporate Events

IGM Biosciences Announces Merger with Concentra Biosciences

On July 1, 2025, IGM Biosciences announced a merger agreement with Concentra Biosciences, where Concentra will acquire IGM Biosciences for $1.247 per share in cash, plus a contingent value right. The transaction, expected to close in August 2025, is subject to conditions including a tender offer for outstanding shares and a minimum cash requirement. The merger aims to benefit IGM Biosciences’ stockholders and positions the company as a wholly owned subsidiary of Concentra.

The most recent analyst rating on (IGMS) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on IGM Biosciences stock, see the IGMS Stock Forecast page.

IGM Biosciences Faces Nasdaq Non-Compliance Notice

On June 6, 2025, IGM Biosciences received a notice from Nasdaq indicating non-compliance with the minimum Market Value of Listed Securities requirement of $50 million. The company has until December 3, 2025, to regain compliance, failing which it may face delisting. IGM Biosciences plans to monitor its market value closely and explore options to meet the compliance requirements, including the possibility of transferring its stock listing to The Nasdaq Capital Market.

The most recent analyst rating on (IGMS) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on IGM Biosciences stock, see the IGMS Stock Forecast page.

IGM Biosciences Terminates Headquarters Lease Agreement

On May 23, 2025, IGM Biosciences, Inc. entered into an agreement to terminate its lease for its headquarters in Mountain View, CA, effective May 31, 2025. As part of the agreement, IGM Biosciences will pay a $14.2 million lease termination fee and transfer ownership of certain personal property to the landlord, relieving the company of future rent obligations.

The most recent analyst rating on (IGMS) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on IGM Biosciences stock, see the IGMS Stock Forecast page.

IGM Biosciences Ends Genzyme Collaboration, Cuts Workforce

On May 5, 2025, IGM Biosciences announced the termination of its Collaboration and License Agreement with Genzyme Corporation, effective 30 days from notice. As a result, IGM Biosciences is reducing its workforce by approximately 80% and closing most of its lab and office facilities to conserve cash, while exploring strategic alternatives and reorganization options.