IMARA Inc. (NASDAQ:IMRA – Get Rating) was the target of some unusual options trading activity on Thursday. Stock investors bought 12,595 put options on the stock. This represents an increase of approximately 4,335% compared to the typical volume of 284 put options.
Insider Activity at IMARA
In other news, major shareholder Braden Michael Leonard purchased 83,199 shares of IMARA stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average price of $1.11 per share, for a total transaction of $92,350.89. Following the transaction, the insider now owns 3,017,774 shares in the company, valued at $3,349,729.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.30% of the stock is owned by insiders.
Institutional Investors Weigh In On IMARA
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in IMARA by 2.5% in the 1st quarter. Renaissance Technologies LLC now owns 450,500 shares of the company’s stock worth $847,000 after buying an additional 10,900 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of IMARA by 4.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 872,581 shares of the company’s stock valued at $1,065,000 after purchasing an additional 39,007 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of IMARA by 273.5% during the 1st quarter. Bank of New York Mellon Corp now owns 69,692 shares of the company’s stock valued at $131,000 after purchasing an additional 51,031 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of IMARA during the 2nd quarter valued at $96,000. Finally, Woodline Partners LP raised its holdings in shares of IMARA by 252.9% during the 1st quarter. Woodline Partners LP now owns 1,025,017 shares of the company’s stock valued at $1,927,000 after purchasing an additional 734,581 shares in the last quarter. Hedge funds and other institutional investors own 59.89% of the company’s stock.
IMARA Stock Up 6.5 %
IMRA stock opened at $2.14 on Friday. IMARA has a 12-month low of $0.97 and a 12-month high of $4.57. The company has a market cap of $56.25 million, a price-to-earnings ratio of -1.03 and a beta of 1.86. The company has a 50 day moving average of $1.21 and a two-hundred day moving average of $1.31.
Wall Street Analyst Weigh In
Separately, HC Wainwright restated a “neutral” rating on shares of IMARA in a research report on Friday, June 10th.
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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