Imago BioSciences (NASDAQ:IMGO) Downgraded by Wedbush

Wedbush lowered shares of Imago BioSciences (NASDAQ:IMGOGet Rating) from an outperform rating to a neutral rating in a report issued on Monday, MarketBeat Ratings reports. Wedbush currently has $36.00 price target on the stock. Wedbush also issued estimates for Imago BioSciences’ Q1 2023 earnings at ($0.57) EPS, Q2 2023 earnings at ($0.63) EPS, Q3 2023 earnings at ($0.61) EPS and Q4 2023 earnings at ($0.65) EPS.

Separately, HC Wainwright reduced their price target on shares of Imago BioSciences from $36.00 to $35.00 and set a buy rating for the company in a research report on Tuesday, August 16th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $36.00.

Imago BioSciences Trading Up 0.1 %

IMGO opened at $35.64 on Monday. Imago BioSciences has a 12-month low of $11.56 and a 12-month high of $35.75. The firm has a market capitalization of $1.21 billion, a PE ratio of -19.37 and a beta of 1.94. The firm has a 50 day moving average of $17.66 and a two-hundred day moving average of $16.24.

Institutional Investors Weigh In On Imago BioSciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY acquired a new stake in shares of Imago BioSciences during the 1st quarter worth approximately $28,000. Ameritas Investment Partners Inc. grew its stake in Imago BioSciences by 108.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 1,556 shares of the company’s stock valued at $30,000 after acquiring an additional 809 shares during the period. Amalgamated Bank acquired a new stake in Imago BioSciences in the 1st quarter valued at $41,000. Tower Research Capital LLC TRC grew its stake in Imago BioSciences by 305.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,643 shares of the company’s stock valued at $85,000 after acquiring an additional 4,250 shares during the period. Finally, Legal & General Group Plc grew its stake in Imago BioSciences by 46.2% in the 2nd quarter. Legal & General Group Plc now owns 6,098 shares of the company’s stock valued at $81,000 after acquiring an additional 1,926 shares during the period. Institutional investors and hedge funds own 99.50% of the company’s stock.

Imago BioSciences Company Profile

(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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