Imago BioSciences, Inc. (NASDAQ:IMGO – Get Rating)'s stock price traded up 8.3% during mid-day trading on Thursday . The company traded as high as $16.12 and last traded at $16.12. 1 shares traded hands during trading, a decline of 100% from the average session volume of 108,936 shares. The stock had previously closed at $14.88.
Analyst Upgrades and Downgrades
Separately, HC Wainwright reduced their price objective on Imago BioSciences from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, August 16th.
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Imago BioSciences Price Performance
The business's 50-day moving average price is $16.25 and its two-hundred day moving average price is $17.12. The company has a market capitalization of $540.18 million, a price-to-earnings ratio of -9.24 and a beta of 2.48.
Insider Activity
In other news, insider Jennifer Peppe sold 5,598 shares of Imago BioSciences stock in a transaction that occurred on Monday, August 15th. The shares were 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 $2,888,382.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 8,168 shares of company stock worth $155,402. Corporate insiders own 14.90% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY acquired a new position in Imago BioSciences during the first quarter valued at approximately $28,000. Ameritas Investment Partners Inc. increased its holdings in shares of Imago BioSciences by 108.3% during 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 in the last quarter. Amalgamated Bank acquired a new position in shares of Imago BioSciences during the first quarter worth $41,000. Legal & General Group Plc increased its holdings in shares of Imago BioSciences by 46.2% during the second quarter. Legal & General Group Plc now owns 6,098 shares of the company's stock worth $81,000 after buying an additional 1,926 shares in the last quarter. Finally, Credit Suisse AG acquired a new position in shares of Imago BioSciences during the second quarter worth $119,000. 99.50% of the stock is currently owned by institutional investors and hedge funds.
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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