Immuneering Co. (NASDAQ:IMRX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Immuneering Co. (NASDAQ:IMRX) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $12.60.

A number of research firms have issued reports on IMRX. Chardan Capital reduced their target price on shares of Immuneering from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Immuneering in a research report on Friday, September 13th.

Immuneering Stock Up 4.2 %

Immuneering stock opened at $2.47 on Tuesday. The firm’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $1.63. Immuneering has a 52 week low of $1.00 and a 52 week high of $8.89. The firm has a market capitalization of $73.24 million, a PE ratio of -1.32 and a beta of -0.45.

Immuneering (NASDAQ:IMRX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.05. On average, research analysts expect that Immuneering will post -1.89 EPS for the current fiscal year.

Institutional Trading of Immuneering

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd raised its position in shares of Immuneering by 37.3% in the 2nd quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock worth $44,000 after buying an additional 9,274 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Immuneering in the 2nd quarter worth about $44,000. Acadian Asset Management LLC purchased a new stake in shares of Immuneering during the 2nd quarter worth about $67,000. Renaissance Technologies LLC acquired a new stake in Immuneering during the 2nd quarter worth approximately $447,000. Finally, Marshall Wace LLP purchased a new position in Immuneering in the second quarter valued at approximately $492,000. 67.65% of the stock is owned by hedge funds and other institutional investors.

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.