Shares of Imago BioSciences, Inc. (NASDAQ:IMGO – Get Rating) traded down 7% during mid-day trading on Monday . The stock traded as low as $17.04 and last traded at $17.11. 846 shares were traded during trading, a decline of 100% from the average session volume of 204,228 shares. The stock had previously closed at $18.39.
Analyst Upgrades and Downgrades
Separately, HC Wainwright dropped their price objective on Imago BioSciences from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, August 16th.
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Imago BioSciences Trading Up 5.2 %
The firm has a fifty day simple moving average of $15.66 and a 200-day simple moving average of $17.66.
Insider Activity
In other news, insider Jennifer Peppe sold 5,598 shares of the business's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $19.41, for a total value of $108,657.18. Following the completion of the sale, the insider now directly owns 148,809 shares in the company, valued at approximately $2,888,382.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 7,721 shares of company stock worth $147,356. 14.90% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMGO. Allspring Global Investments Holdings LLC acquired a new position in Imago BioSciences during the 4th quarter valued at approximately $94,000. New York State Common Retirement Fund acquired a new position in Imago BioSciences during the 4th quarter valued at approximately $154,000. Northern Trust Corp boosted its position in Imago BioSciences by 25.0% during the 4th quarter. Northern Trust Corp now owns 107,122 shares of the company's stock valued at $2,541,000 after purchasing an additional 21,413 shares during the period. Swiss National Bank acquired a new position in Imago BioSciences during the 4th quarter valued at approximately $612,000. Finally, Alps Advisors Inc. acquired a new position in Imago BioSciences during the 4th quarter valued at approximately $920,000. Institutional investors and hedge funds own 88.28% of the company's stock.
About Imago BioSciences
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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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