ImageneBio, Inc. (NASDAQ:IMA) Shares Shorted: Short Interest Up 86.7% in October

ImageneBio, Inc. (NASDAQ:IMA) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 61,349 shares, an increase of 86.7% from the September 30th total of 32,852 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 14,638 shares, the short-interest ratio is presently 4.2 days.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. HC Wainwright began coverage on ImageneBio in a report on Friday, August 21st. They set a “buy” rating and a $28.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ImageneBio in a report on Friday, September 25th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, ImageneBio currently has a consensus rating of “Reduce” and an average price target of $28.00.

ImageneBio Price Performance

Shares of NASDAQ:IMA traded down $0.01 during trading on Monday, hitting $4.09. The company’s stock had a trading volume of 7,608 shares, compared to its average volume of 118,364. The company has a 50-day moving average of $4.67 and a 200-day moving average of $5.64. ImageneBio has a 12 month low of $3.88 and a 12 month high of $8.84. The firm has a market cap of $46.42 million, a price-to-earnings ratio of -0.89 and a beta of 0.83.

ImageneBio (NASDAQ:IMA) last announced its earnings results on Wednesday, August 5th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.27. As a group, research analysts anticipate that ImageneBio will post -3.23 earnings per share for the current year.

Institutional Investors Weigh In On ImageneBio

A number of hedge funds have recently modified their holdings of the business. Blue Owl Capital Holdings LP purchased a new stake in shares of ImageneBio in the 2nd quarter worth $5,414,000. Cable Car Capital LP purchased a new position in ImageneBio during the second quarter valued at $4,611,000. Trails Edge Capital Partners LP purchased a new position in ImageneBio during the second quarter valued at $1,663,824. BML Capital Management LLC lifted its position in ImageneBio by 13.4% during the first quarter. BML Capital Management LLC now owns 200,730 shares of the company’s stock valued at $1,004,000 after purchasing an additional 23,704 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in ImageneBio during the second quarter valued at about $797,000. Institutional investors own 75.00% of the company’s stock.

ImageneBio Company Profile

ImageneBio, Inc is a biotechnology company focused on advancing precision oncology through blood-based molecular testing and data analysis. The company develops technologies designed to help identify and monitor cancer-related genomic signals using liquid biopsy samples.

Its platform is intended to support the detection and tracking of tumor biomarkers, potentially helping clinicians assess treatment response, identify disease progression, and guide more personalized cancer-care decisions.