Imago BioSciences (NASDAQ:IMGO) Rating Lowered to Market Perform at Cowen

Cowen downgraded shares of Imago BioSciences (NASDAQ:IMGOGet Rating) from an outperform rating to a market perform rating in a research note released on Monday, The Fly reports. Cowen currently has $36.00 price target on the stock.

A number of other research analysts have also recently issued reports on IMGO. Wedbush cut shares of Imago BioSciences from an outperform rating to a neutral rating and set a $36.00 price target for the company. in a research report on Monday. HC Wainwright lowered 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. Finally, Jefferies Financial Group cut shares of Imago BioSciences from a buy rating to a hold rating and lifted their target price for the stock from $35.00 to $36.00 in a report on Monday. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Imago BioSciences currently has an average rating of Hold and an average target price of $36.00.

Imago BioSciences Price Performance

Shares of NASDAQ IMGO opened at $35.64 on Monday. Imago BioSciences has a 1 year low of $11.56 and a 1 year high of $35.75. The stock has a market cap of $1.21 billion, a P/E ratio of -19.37 and a beta of 1.94. The firm has a 50-day moving average of $17.66 and a 200 day moving average of $16.24.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IMGO. Frazier Life Sciences Management L.P. purchased a new position in Imago BioSciences in the first quarter worth about $57,256,000. BlackRock Inc. raised its holdings in shares of Imago BioSciences by 146.2% during 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 during the last quarter. Vanguard Group Inc. raised its holdings 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 valued at $15,283,000 after purchasing an additional 323,376 shares during the last quarter. Matrix Capital Management Company LP purchased a new position in shares of Imago BioSciences during the first quarter valued at approximately $5,936,000. Finally, FMR LLC raised its holdings in shares of Imago BioSciences by 4.4% during the second quarter. FMR LLC now owns 5,060,365 shares of the company’s stock valued at $67,759,000 after purchasing an additional 212,359 shares during the last quarter. 99.50% of the stock is owned by hedge funds and other institutional investors.

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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