IGMS up 10%. A closer look at the stock:

Igm Biosciences Inc (IGMS) is trading 10% higher at $20.24 today. Shares of the stock are quickly outperforming other names in the space on what is turning out to be a somewhat somber day for the Health Care sector.

-While the promising biotech company posted poor earnings, it has recently been upgraded to a buy by BOFA.

-The company reported earnings per share of $0.94 for the quarter, missing analyst consensus estimates by $0.39.

Igm Biosciences Inc has been trading between a 52-week high of $76.2 and a 52-week low of $12.67. The stock has a market cap of $586 Million.

Headquartered in Mountain View, California, IGM Biosciences is a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies. Since 2010, IGM Biosciences has worked to overcome the manufacturing and protein engineering hurdles that have limited the therapeutic use of IgM antibodies. Through its efforts, IGM Biosciences has created a proprietary IgM technology platform for the development of IgM antibodies for those clinical indications where their inherent properties may provide advantages as compared to IgG antibodies.