Immuneering Co. (NASDAQ:IMRX) Sees Large Drop in Short Interest

Immuneering Co. (NASDAQ:IMRX) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 2,730,000 shares, a decrease of 5.2% from the March 31st total of 2,880,000 shares. Currently, 13.2% of the shares of the company are sold short. Based on an average daily trading volume, of 677,400 shares, the short-interest ratio is currently 4.0 days.

Insider Activity at Immuneering

In other Immuneering news, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $3.72, for a total transaction of $1,893,818.52. Following the completion of the sale, the insider now directly owns 3,695,273 shares in the company, valued at $13,746,415.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Immuneering news, CEO Benjamin J. Zeskind acquired 20,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was purchased at an average price of $2.77 per share, with a total value of $55,400.00. Following the acquisition, the chief executive officer now directly owns 2,281,852 shares of the company’s stock, valued at approximately $6,320,730.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $3.72, for a total transaction of $1,893,818.52. Following the transaction, the insider now owns 3,695,273 shares in the company, valued at approximately $13,746,415.56. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 111,790 shares of company stock worth $266,645. Insiders own 23.00% of the company’s stock.

Institutional Investors Weigh In On Immuneering

A number of institutional investors have recently modified their holdings of the company. TD Asset Management Inc lifted its holdings in Immuneering by 100.0% in the third quarter. TD Asset Management Inc now owns 284,476 shares of the company’s stock valued at $2,185,000 after buying an additional 142,238 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Immuneering by 11.4% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 195,000 shares of the company’s stock worth $1,498,000 after acquiring an additional 20,000 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Immuneering in the 3rd quarter valued at about $154,000. Corton Capital Inc. bought a new stake in shares of Immuneering during the 3rd quarter valued at about $145,000. Finally, Southport Management L.L.C. acquired a new stake in Immuneering during the third quarter worth approximately $134,000. 67.65% of the stock is owned by institutional investors.

Immuneering Trading Down 4.1 %

NASDAQ:IMRX opened at $1.42 on Wednesday. Immuneering has a one year low of $1.38 and a one year high of $11.92. The firm’s 50 day simple moving average is $3.49 and its 200 day simple moving average is $5.44.

Immuneering (NASDAQ:IMRX) last issued its quarterly earnings data on Friday, March 1st. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.06). As a group, sell-side analysts expect that Immuneering will post -1.89 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IMRX shares. Mizuho reduced their price target on Immuneering from $20.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Oppenheimer restated an “outperform” rating and issued a $25.00 price target on shares of Immuneering in a research report on Tuesday, March 5th. Guggenheim reiterated a “neutral” rating on shares of Immuneering in a research report on Thursday, March 14th. Chardan Capital reduced their target price on Immuneering from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 target price (down previously from $16.00) on shares of Immuneering in a research report on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Immuneering Company Profile

Immuneering Corporation, a clinical-stage oncology company, engages in the development of medicines for broad populations of cancer patients. Its lead product candidates include IMM-1-104, a dual-MEK inhibitor currently under Phase 1/2a clinical trial to treat patients with cancer, including pancreatic, melanoma, colorectal, and non-small cell lung cancer caused by mutations of RAS and/or RAF; and IMM-6-415 is in Investigational New Drug application to treat solid tumors.