Immuneering’s (IMRX) “Buy” Rating Reaffirmed at Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They presently have a $12.00 target price on the stock.

Several other brokerages also recently commented on IMRX. Chardan Capital reiterated a “buy” rating and set a $13.00 target price on shares of Immuneering in a research note on Wednesday, January 8th. Morgan Stanley downgraded Immuneering from an “equal weight” rating to an “underweight” rating in a research note on Friday, December 13th.

Immuneering Stock Up 9.1 %

IMRX stock opened at $1.80 on Friday. The business has a 50 day moving average price of $1.79 and a two-hundred day moving average price of $1.99. The company has a market cap of $55.89 million, a price-to-earnings ratio of -0.91 and a beta of -0.32. Immuneering has a twelve month low of $1.00 and a twelve month high of $3.83.

Immuneering (NASDAQ:IMRX) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.16). On average, equities research analysts anticipate that Immuneering will post -1.86 EPS for the current fiscal year.

Institutional Trading of Immuneering

Several hedge funds have recently added to or reduced their stakes in the company. Corsair Capital Management L.P. acquired a new position in Immuneering in the 3rd quarter valued at $25,000. HighTower Advisors LLC raised its holdings in Immuneering by 21.4% in the 3rd quarter. HighTower Advisors LLC now owns 53,360 shares of the company’s stock valued at $132,000 after acquiring an additional 9,400 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Immuneering in the 4th quarter valued at $390,000. XTX Topco Ltd raised its holdings in Immuneering by 177.2% in the 4th quarter. XTX Topco Ltd now owns 32,650 shares of the company’s stock valued at $72,000 after acquiring an additional 20,871 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Immuneering during the 4th quarter worth $47,000. 67.65% of the stock is owned by institutional investors and hedge funds.

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.