Insider Buying: IMARA Inc. (NASDAQ:IMRA) Major Shareholder Acquires 15,000 Shares of Stock

IMARA Inc. (NASDAQ:IMRAGet Rating) major shareholder Braden Michael Leonard bought 15,000 shares of the business’s stock in a transaction on Monday, May 16th. The stock was bought at an average cost of $1.17 per share, with a total value of $17,550.00. Following the transaction, the insider now owns 2,875,000 shares in the company, valued at approximately $3,363,750. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Braden Michael Leonard also recently made the following trade(s):

  • On Thursday, April 21st, Braden Michael Leonard bought 552,000 shares of IMARA stock. The stock was bought at an average cost of $1.40 per share, with a total value of $772,800.00.

IMARA stock traded up $0.03 during mid-day trading on Wednesday, hitting $1.29. The stock had a trading volume of 96 shares, compared to its average volume of 332,323. The firm has a market capitalization of $33.90 million, a P/E ratio of -0.53 and a beta of 2.60. The firm’s 50 day moving average is $1.45 and its 200 day moving average is $2.00. IMARA Inc. has a one year low of $0.97 and a one year high of $9.29.

IMARA (NASDAQ:IMRAGet Rating) last issued its earnings results on Tuesday, March 15th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.26. During the same quarter in the prior year, the company posted ($1.09) earnings per share. On average, research analysts predict that IMARA Inc. will post -2.09 earnings per share for the current year.

A number of equities research analysts have recently issued reports on IMRA shares. Zacks Investment Research raised shares of IMARA from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research report on Friday, March 18th. SVB Leerink reissued a “market perform” rating on shares of IMARA in a research report on Wednesday, April 6th. Finally, Citigroup downgraded shares of IMARA from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.75.

Institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in IMARA in the 3rd quarter worth $49,000. Bank of New York Mellon Corp purchased a new stake in IMARA in the 3rd quarter worth $76,000. Trexquant Investment LP purchased a new stake in IMARA in the 3rd quarter worth $80,000. Millennium Management LLC lifted its stake in IMARA by 98.3% in the 2nd quarter. Millennium Management LLC now owns 34,863 shares of the company’s stock worth $275,000 after purchasing an additional 17,282 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in IMARA by 260.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 37,962 shares of the company’s stock worth $155,000 after purchasing an additional 27,416 shares in the last quarter. 71.07% of the stock is owned by institutional investors.

About IMARA (Get Rating)

IMARA Inc, a clinical-stage biopharmaceutical company, develops and commercializes therapeutics for patients with rare genetic disorders of hemoglobin. Its lead product candidate is IMR-687, an oral and once-a-day therapeutic that is in Phase 2b clinical trials for the treatment of sickle cell disease and ß-thalassemia.

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