Imago BioSciences (NASDAQ:IMGO) Shares Gap Up to $14.88

Imago BioSciences, Inc. (NASDAQ:IMGOGet Rating)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $14.88, but opened at $15.30. Imago BioSciences shares last traded at $15.30, with a volume of 100 shares.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright cut their price target 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 Up 1.9 %

The business’s 50 day moving average is $16.32 and its two-hundred day moving average is $17.09. The firm has a market cap of $565.85 million, a P/E ratio of -9.42 and a beta of 2.48.

Insider Buying and Selling

In related news, insider Jennifer Peppe sold 5,598 shares of Imago BioSciences stock in a transaction on 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 transaction, the insider now owns 148,809 shares of the company’s stock, valued at $2,888,382.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 8,168 shares of company stock valued at $155,402 over the last quarter. Insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Imago BioSciences

Several hedge funds and other institutional investors have recently bought and sold shares of IMGO. Frazier Life Sciences Management L.P. bought a new stake in Imago BioSciences in the first quarter valued at $57,256,000. BlackRock Inc. increased its stake in Imago BioSciences by 146.2% in the first quarter. BlackRock Inc. now owns 3,290,894 shares of the company’s stock valued at $63,415,000 after purchasing an additional 1,954,112 shares in the last quarter. Woodline Partners LP increased its position in shares of Imago BioSciences by 101.9% during the fourth quarter. Woodline Partners LP now owns 848,129 shares of the company’s stock worth $20,109,000 after acquiring an additional 428,127 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Imago BioSciences by 20.1% during the fourth quarter. Citadel Advisors LLC now owns 2,452,926 shares of the company’s stock worth $57,271,000 after acquiring an additional 410,487 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Imago BioSciences by 68.8% during the first quarter. Vanguard Group Inc. now owns 793,101 shares of the company’s stock worth $15,283,000 after acquiring an additional 323,376 shares in the last quarter. 99.50% of the stock is owned by institutional investors.

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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