Imago BioSciences Inc. [IMGO] moved up 104.54: Why It’s Important

Imago BioSciences Inc. [NASDAQ: IMGO] gained 104.54% or 18.19 points to close at $35.59 with a heavy trading volume of 20441521 shares. The company report on November 21, 2022 that Merck to Acquire Imago BioSciences, Inc.


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Acquisition expands Merck’s growing hematology portfolio.

Merck (NYSE: MRK), known as MSD outside the United States and Canada, and Imago BioSciences, Inc. (“Imago”) (Nasdaq: IMGO) today announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Imago for $36.00 per share in cash for an approximate total equity value of $1.35 billion.

It opened the trading session at $35.67, the shares rose to $35.75 and dropped to $35.44, the range by which the price of stock traded the whole day. The daily chart for IMGO points out that the company has recorded 136.64% gains over the past six months. However, it is still -207.87% lower than its most recent low trading price.

If we look at the average trading volume of 123.13K shares, IMGO reached to a volume of 20441521 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Imago BioSciences Inc. [IMGO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IMGO shares is $33.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IMGO stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Imago BioSciences Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 28, 2022. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on February 14, 2022, representing the official price target for Imago BioSciences Inc. stock.

The Average True Range (ATR) for Imago BioSciences Inc. is set at 2.44 The Price to Book ratio for the last quarter was 6.96, with the Price to Cash per share for the same quarter was set at 5.07.

Trading performance analysis for IMGO stock

Imago BioSciences Inc. [IMGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 97.94. With this latest performance, IMGO shares gained by 133.99% in over the last four-week period, additionally plugging by 136.64% over the last 6 months – not to mention a rise of 49.54% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IMGO stock in for the last two-week period is set at 88.65, with the RSI for the last a single of trading hit 92.06, and the three-weeks RSI is set at 84.83 for Imago BioSciences Inc. [IMGO]. The present Moving Average for the last 50 days of trading for this stock 16.50, while it was recorded at 21.34 for the last single week of trading, and 17.25 for the last 200 days.

Imago BioSciences Inc. [IMGO]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -27.43, with Return on Assets sitting at -26.14.

Imago BioSciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.20 and a Current Ratio set at 13.20.

An analysis of insider ownership at Imago BioSciences Inc. [IMGO]

There are presently around $1,131 million, or 95.70% of IMGO stock, in the hands of institutional investors. The top three institutional holders of IMGO stocks are: FMR LLC with ownership of 5,061,247, which is approximately 0.017% of the company’s market cap and around 1.50% of the total institutional ownership; BLACKROCK INC., holding 4,262,077 shares of the stock with an approximate value of $151.69 million in IMGO stocks shares; and OMEGA FUND MANAGEMENT, LLC, currently with $107.44 million in IMGO stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Imago BioSciences Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 31 institutional holders increased their position in Imago BioSciences Inc. [NASDAQ:IMGO] by around 1,277,168 shares. Additionally, 24 investors decreased positions by around 3,614,392 shares, while 16 investors held positions by with 26,875,750 shares. The mentioned changes placed institutional holdings at 31,767,310 shares, according to the latest SEC report filing. IMGO stock had 8 new institutional investments in for a total of 389,107 shares, while 5 institutional investors sold positions of 3,069,783 shares during the same period.

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