Immuneering Co. (NASDAQ:IMRX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Immuneering Co. (NASDAQ:IMRX) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $13.50.

A number of equities research analysts have recently commented on IMRX shares. Chardan Capital cut their price objective on Immuneering from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Immuneering in a research note on Wednesday, May 8th. Oppenheimer reissued an “outperform” rating and set a $25.00 target price on shares of Immuneering in a research note on Tuesday, March 5th. Jefferies Financial Group reissued a “hold” rating and set a $3.00 target price (down from $16.00) on shares of Immuneering in a research note on Friday, March 15th. Finally, Mizuho cut their target price on shares of Immuneering from $20.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd.

Insider Transactions at Immuneering

In other news, major shareholder Cormorant Asset Management, Lp sold 400,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $2.90, for a total value of $1,160,000.00. Following the transaction, the insider now directly owns 2,895,273 shares of the company’s stock, valued at $8,396,291.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 25.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Immuneering

Several hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its position in Immuneering by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,416 shares of the company’s stock worth $128,000 after buying an additional 4,417 shares during the last quarter. Corton Capital Inc. bought a new stake in Immuneering during the third quarter valued at about $145,000. Adage Capital Partners GP L.L.C. boosted its holdings in Immuneering by 11.4% during the third quarter. Adage Capital Partners GP L.L.C. now owns 195,000 shares of the company’s stock valued at $1,498,000 after acquiring an additional 20,000 shares during the period. PNC Financial Services Group Inc. bought a new stake in Immuneering during the third quarter valued at about $154,000. Finally, Vanguard Group Inc. boosted its holdings in Immuneering by 12.1% during the first quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock valued at $3,479,000 after acquiring an additional 129,851 shares during the period. 67.65% of the stock is owned by institutional investors and hedge funds.

Immuneering Price Performance

IMRX opened at $1.43 on Friday. The company has a market capitalization of $42.40 million, a price-to-earnings ratio of -0.76 and a beta of -0.59. Immuneering has a 1-year low of $1.30 and a 1-year high of $11.06. The business has a 50 day moving average price of $1.50 and a two-hundred day moving average price of $4.03.

Immuneering (NASDAQ:IMRX) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). Equities analysts expect that Immuneering will post -1.99 EPS for the current fiscal year.

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.