Imago BioSciences (NASDAQ:IMGO) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Imago BioSciences (NASDAQ:IMGOGet Rating) from a buy rating to a hold rating in a research report released on Monday morning, The Fly reports.

IMGO has been the subject of several other reports. HC Wainwright cut their price target on Imago BioSciences from $36.00 to $35.00 and set a buy rating for the company in a research note on Tuesday, August 16th. Wedbush cut Imago BioSciences from an outperform rating to a neutral rating and set a $36.00 price target for the company. in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $36.00.

Imago BioSciences Trading Up 104.5 %

Shares of IMGO stock opened at $35.59 on Monday. The stock has a market cap of $1.20 billion, a P/E ratio of -19.34 and a beta of 1.94. The stock has a 50 day simple moving average of $16.13 and a 200 day simple moving average of $15.69. Imago BioSciences has a 1 year low of $11.56 and a 1 year high of $35.75.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IMGO. New York State Common Retirement Fund raised its position in Imago BioSciences by 106.6% during the first quarter. New York State Common Retirement Fund now owns 13,391 shares of the company’s stock valued at $258,000 after purchasing an additional 6,909 shares in the last quarter. Swiss National Bank raised its position in Imago BioSciences by 7.8% during the first quarter. Swiss National Bank now owns 27,800 shares of the company’s stock valued at $536,000 after purchasing an additional 2,000 shares in the last quarter. TD Asset Management Inc. raised its position in Imago BioSciences by 182.7% during the first quarter. TD Asset Management Inc. now owns 57,873 shares of the company’s stock valued at $1,115,000 after purchasing an additional 37,400 shares in the last quarter. JPMorgan Chase & Co. raised its position in Imago BioSciences by 827.5% during the first quarter. JPMorgan Chase & Co. now owns 62,727 shares of the company’s stock valued at $1,208,000 after purchasing an additional 55,964 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Imago BioSciences by 84.6% during the first quarter. Bank of New York Mellon Corp now owns 51,629 shares of the company’s stock valued at $995,000 after purchasing an additional 23,661 shares in the last quarter. 99.50% of the stock is currently owned by institutional investors and hedge funds.

About Imago BioSciences

(Get Rating)

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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Analyst Recommendations for Imago BioSciences (NASDAQ:IMGO)

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