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2022-12-31 14:02
Imago BioSciences, Inc. (NASDAQ:IMGO – Get Rating) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 1,000,000 shares, an increase of 41.6% from the November 30th total of 706,100 shares. Currently, 5.0% of the shares of the stock are sold short. Based on an average daily volume of 685,700 shares, the days-to-cover ratio is presently 1.5 days.
In other Imago BioSciences news, insider Jennifer Peppe sold 119,422 shares of the firm's stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $35.80, for a total transaction of $4,275,307.60. Following the sale, the insider now directly owns 148,809 shares of the company's stock, valued at approximately $5,327,362.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jennifer Peppe sold 119,422 shares of the firm's stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $35.80, for a total transaction of $4,275,307.60. Following the sale, the insider now owns 148,809 shares in the company, valued at $5,327,362.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Laura G. Eichorn sold 3,100 shares of the company's stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $35.93, for a total value of $111,383.00. Following the completion of the transaction, the chief financial officer now owns 207,737 shares of the company's stock, valued at $7,463,990.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,333 shares of company stock valued at $6,943,422. 14.90% of the stock is owned by insiders.
Get Imago BioSciences alerts:Several institutional investors and hedge funds have recently bought and sold shares of IMGO. Metropolitan Life Insurance Co NY bought a new stake in shares of Imago BioSciences in the 1st quarter valued at approximately $28,000. Ameritas Investment Partners Inc. increased its position in Imago BioSciences by 108.3% in the first quarter. Ameritas Investment Partners Inc. now owns 1,556 shares of the company's stock worth $30,000 after buying an additional 809 shares during the period. Amalgamated Bank acquired a new position in Imago BioSciences during the 1st quarter valued at about $41,000. Legal & General Group Plc increased its position in Imago BioSciences by 46.2% in the 2nd quarter. Legal & General Group Plc now owns 6,098 shares of the company's stock valued at $81,000 after acquiring an additional 1,926 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Imago BioSciences by 305.1% during the third quarter. Tower Research Capital LLC TRC now owns 5,643 shares of the company's stock valued at $85,000 after purchasing an additional 4,250 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company's stock.
Imago BioSciences (NASDAQ:IMGO – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.06). As a group, sell-side analysts anticipate that Imago BioSciences will post -1.93 EPS for the current year.
Several research analysts recently weighed in on the company. Cowen lowered Imago BioSciences to a "market perform" rating and set a $36.00 target price on the stock. in a research report on Tuesday, November 22nd. Cowen lowered shares of Imago BioSciences from an "outperform" rating to a "market perform" rating and set a $36.00 price target on the stock. in a report on Monday, November 21st. Guggenheim set a $36.00 price objective on shares of Imago BioSciences in a research note on Thursday, November 24th. Stifel Nicolaus downgraded shares of Imago BioSciences from a "buy" rating to a "hold" rating and raised their target price for the company from $35.00 to $36.00 in a research note on Monday, November 28th. Finally, Jefferies Financial Group downgraded Imago BioSciences from a "buy" rating to a "hold" rating and increased their price target for the company from $35.00 to $36.00 in a report on Monday, November 21st. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $36.00.
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Imago BioSciences, Inc, a clinical stage biopharmaceutical company, discovers and develops small molecule product candidates that target lysine-specific demethylase 1(LSD1), an enzyme that used in the production of blood cells in the bone marrow. Its lead product candidate is bomedemstat, which is in Phase II clinical trials for the treatment of myeloproliferative neoplasms chronic cancers of the bone marrow, such as myelofibrosis, essential thrombocythemia, and polycythemia vera.
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