Blackstone Inc. reduced its holdings in Imago BioSciences, Inc. (NASDAQ:IMGO – Get Rating) by 27.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,436,732 shares of the company's stock after selling 938,305 shares during the period. Blackstone Inc. owned about 0.07% of Imago BioSciences worth $46,956,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Metropolitan Life Insurance Co NY purchased a new position in Imago BioSciences during the first quarter valued at $28,000. Ameritas Investment Partners Inc. lifted its holdings in Imago BioSciences by 108.3% during the first quarter. Ameritas Investment Partners Inc. now owns 1,556 shares of the company's stock valued at $30,000 after purchasing an additional 809 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in Imago BioSciences during the fourth quarter valued at $215,000. American International Group Inc. lifted its holdings in Imago BioSciences by 92.3% during the first quarter. American International Group Inc. now owns 9,964 shares of the company's stock valued at $192,000 after purchasing an additional 4,782 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new position in Imago BioSciences during the first quarter valued at $242,000. 99.50% of the stock is owned by hedge funds and other institutional investors.
Get Imago BioSciences alerts:Insider Activity
In related news, insider Jennifer Peppe sold 5,598 shares of the firm's stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $19.41, for a total transaction 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 is available through the SEC website. Insiders sold 8,168 shares of company stock worth $155,402 over the last three months. Insiders own 14.90% of the company's stock.
Analyst Ratings Changes
Separately, HC Wainwright decreased their price objective on shares of Imago BioSciences from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, August 16th.Imago BioSciences Stock Performance
Shares of NASDAQ IMGO traded up $0.14 during mid-day trading on Friday, reaching $16.91. The company's stock had a trading volume of 86,921 shares, compared to its average volume of 105,353. The stock has a 50-day moving average of $16.38 and a two-hundred day moving average of $17.02. The stock has a market capitalization of $570.54 million, a P/E ratio of -9.50 and a beta of 2.48. Imago BioSciences, Inc. has a 1-year low of $11.56 and a 1-year high of $30.21.
Imago BioSciences Company Profile
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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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