Saturday, June 25, 2022

A company insider recently purchased 83,199 shares of IMARA Inc. [IMRA]. Should You buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. IMARA Inc. shares valued at $92,243 were purchased by Leonard Braden Michael on Jun 16. At $1.11 per share, Leonard Braden Michael acquired 83,199 shares. The insider’s holdings grew to 3,017,774 shares worth approximately $3.35 million following the completion of this transaction.

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Also, Leonard Braden Michael purchased 2,630 shares, netting a total of over 3,051 in proceeds. Following the buying of shares at $1.16 each, the insider now holds 2,934,575 shares.

Before that, Leonard Braden Michael had added 30,800 shares to its account. In a trade valued at $34,976, the 10% Owner bought IMARA Inc. shares for $1.14 each. Upon closing the transaction, the insider’s holdings increased to 30,800 shares, worth approximately $3.25 million.

As published in a research note from Morgan Stanley on August 11, 2021, IMARA Inc. [IMRA] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $12 from $33. This represents a 90.75% premium over Wednesday’s closing price. As of August 17, 2020, Citigroup has increased its “Neutral” rating to a “Buy” for IMRA. Earlier on June 30, 2020, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for IMRA stock which previously was a “a Buy”.

Analyzing IMRA’s Price Performance

On Wednesday, IMARA Inc. [NASDAQ: IMRA] plunged -5.13% to $1.11. The stock’s lowest price that day was $1.09, but it reached a high of $1.1999 in the same session. During the last five days, there has been a surge of approximately 4.72%. Over the course of the year, IMARA Inc. shares have dropped approximately -50.67%. Shares of the company reached a 52-week high of $2.4500 on 01/03/22 and a 52-week low of $0.9739 on 04/13/22. A 50-day SMA is recorded $1.2130, while a 200-day SMA reached $2.2869. Nevertheless, trading volume fell to 0.12 million shares from 75100.0 shares the previous day.

Support And Resistance Levels for IMARA Inc. (IMRA)

According to the 24-hour chart, there is a support level at 1.0667, which, if violated, would cause prices to drop to 1.0234. In the upper region, resistance lies at 1.1766. The next price resistance is at 1.2432. RSI (Relative Strength Index) is 44.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0133, which suggests the price will decrease in the coming days. Percent R is at 70.00%, indicating 70.00 price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of IMARA Inc. (IMRA)?

According to BML Capital Management LLC filings, the company currently owns 3,254,575 shares, which is about 12.39% of the total IMRA shares outstanding. The investor’s shares have appreciated by 33,430 from its previous 13-F filing of 3221145.0 shares. With the completion of the sale, Lundbeckfond Invest A/S’s stake is now worth $1,733,594. Woodline Partners LP acquire a 252.92% interest valued at $1.24 million while Rock Springs Capital Management L purchased a 100 stake. A total of 834,780 shares of IMARA Inc. were bought by Lion Point Capital LP during the quarter, and -10,174 were sold by Goldman Sachs & Co. LLC. In its current portfolio, Renaissance Technologies LLC holds 450,500 shares valued at $0.55 million.

In terms of IMARA Inc. share price expectations, FactSet research, analysts set an average price target of $1.20 in the next 12 months, up nearly 2.56% from the previous closing price of $1.17. Analysts anticipate IMARA Inc. stock to reach $1.40 by 2022, with the lowest price target being $1.00. In spite of this, 3 analysts ranked IMARA Inc. stock as a Hold at the end of 2022. On April 06, 2020, SVB Leerink assigned a price target of “an Outperform” to the stock and initiated coverage with a $25.

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