Immuneering (NASDAQ:IMRX) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Immuneering (NASDAQ:IMRX) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $9.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Oppenheimer lowered their target price on Immuneering from $25.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Chardan Capital reiterated a “buy” rating and issued a $13.00 price target on shares of Immuneering in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.25.

Immuneering Stock Up 52.2%

Shares of IMRX opened at $2.77 on Wednesday. Immuneering has a 12-month low of $1.00 and a 12-month high of $3.83. The business has a 50-day simple moving average of $1.56 and a two-hundred day simple moving average of $1.75. The stock has a market cap of $99.69 million, a PE ratio of -1.41 and a beta of 0.01.

Immuneering (NASDAQ:IMRX) last issued its earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). On average, equities research analysts expect that Immuneering will post -1.86 EPS for the current year.

Insider Activity

In other Immuneering news, Director Thomas J. Schall bought 40,485 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The shares were bought at an average price of $2.21 per share, for a total transaction of $89,471.85. Following the transaction, the director now directly owns 43,385 shares in the company, valued at approximately $95,880.85. This trade represents a 1,396.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Immuneering

Several institutional investors and hedge funds have recently made changes to their positions in IMRX. Tang Capital Management LLC bought a new position in Immuneering in the fourth quarter worth approximately $27,000. Jane Street Group LLC purchased a new stake in shares of Immuneering during the first quarter valued at approximately $32,000. Marshall Wace LLP purchased a new stake in Immuneering in the fourth quarter worth $47,000. First Manhattan CO. LLC. purchased a new stake in Immuneering in the fourth quarter worth $71,000. Finally, XTX Topco Ltd increased its position in Immuneering by 177.2% in the fourth quarter. XTX Topco Ltd now owns 32,650 shares of the company’s stock worth $72,000 after buying an additional 20,871 shares during the last quarter. Institutional investors own 67.65% of the company’s stock.

About Immuneering

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.