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2023-01-10 01:12
Shares of Imago BioSciences, Inc. (NASDAQ:IMGO – Get Rating) saw an uptick in trading volume on Monday . 5,211 shares were traded during trading, a decline of 97% from the previous session's volume of 165,300 shares.The stock last traded at $35.99 and had previously closed at $35.97.
Several research firms have weighed in on IMGO. Stifel Nicolaus cut Imago BioSciences from a "buy" rating to a "hold" rating and increased their price objective for the stock from $35.00 to $36.00 in a research report on Monday, November 28th. Cowen cut Imago BioSciences from an "outperform" rating to a "market perform" rating and set a $36.00 price objective on the stock. in a research report on Monday, November 21st. Cowen cut Imago BioSciences to a "market perform" rating and set a $36.00 price objective on the stock. in a research report on Tuesday, November 22nd. Wedbush cut Imago BioSciences from an "outperform" rating to a "neutral" rating and set a $36.00 price objective on the stock. in a research report on Monday, November 21st. Finally, Guggenheim set a $36.00 price target on Imago BioSciences in a research report on Thursday, November 24th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $36.00.
Get Imago BioSciences alerts:The stock has a 50-day simple moving average of $30.20 and a 200-day simple moving average of $20.86.
Imago BioSciences (NASDAQ:IMGO – Get Rating) last released its 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). On average, equities research analysts forecast that Imago BioSciences, Inc. will post -1.93 EPS for the current year.In other Imago BioSciences news, CFO Laura G. Eichorn sold 3,100 shares of Imago BioSciences stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $35.93, for a total value of $111,383.00. Following the transaction, the chief financial officer now owns 207,737 shares in the company, valued at $7,463,990.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Laura G. Eichorn sold 3,100 shares of Imago BioSciences stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $35.93, for a total transaction of $111,383.00. Following the sale, the chief financial officer now directly owns 207,737 shares of the company's stock, valued at $7,463,990.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Arenberg sold 70,508 shares of Imago BioSciences stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $35.93, for a total value of $2,533,352.44. Following the sale, the insider now directly owns 49,387 shares in the company, valued at $1,774,474.91. The disclosure for this sale can be found here. Insiders have sold a total of 194,333 shares of company stock worth $6,943,422 over the last 90 days. Insiders own 14.90% of the company's stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Imago BioSciences by 38.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 699,986 shares of the company's stock worth $9,373,000 after acquiring an additional 193,628 shares during the period. Amalgamated Bank bought a new stake in Imago BioSciences in the first quarter worth approximately $41,000. Matrix Capital Management Company LP bought a new stake in Imago BioSciences in the first quarter worth approximately $5,936,000. Monarch Partners Asset Management LLC bought a new stake in Imago BioSciences in the third quarter worth approximately $2,241,000. Finally, Emerald Advisers LLC increased its holdings in Imago BioSciences by 3.7% in the third quarter. Emerald Advisers LLC now owns 853,637 shares of the company's stock worth $12,847,000 after purchasing an additional 30,575 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.
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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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