Immuneering (NASDAQ:IMRX) Shares Down 15%

Immuneering Co. (NASDAQ:IMRX – Get Rating) was down 15% on Tuesday . The stock traded as low as $6.85 and last traded at $6.97. Approximately 121,569 shares traded hands during trading, an increase of 116% from the average daily volume of 56,372 shares. The stock had previously closed at $8.20.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IMRX shares. Chardan Capital lifted their price target on Immuneering from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, April 18th. Morgan Stanley raised Immuneering from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $5.00 to $14.00 in a report on Wednesday, April 19th. Finally, Mizuho raised Immuneering from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $20.00 in a report on Wednesday, April 19th.

Immuneering Stock Down 15.0 %

The company has a fifty day simple moving average of $9.67 and a 200 day simple moving average of $6.82. The firm has a market capitalization of $203.87 million, a P/E ratio of -3.59 and a beta of -1.33.

Immuneering (NASDAQ:IMRX – Get Rating) last released its earnings results on Monday, March 6th. The company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.08. Immuneering had a negative return on equity of 44.23% and a negative net margin of 15,934.70%. As a group, equities analysts expect that Immuneering Co. will post -2.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. UBS Group AG purchased a new stake in Immuneering during the first quarter valued at $26,000. California State Teachers Retirement System increased its position in Immuneering by 81.8% during the first quarter. California State Teachers Retirement System now owns 8,124 shares of the company’s stock valued at $53,000 after acquiring an additional 3,656 shares during the last quarter. American International Group Inc. increased its position in Immuneering by 111.1% during the first quarter. American International Group Inc. now owns 9,432 shares of the company’s stock valued at $61,000 after acquiring an additional 4,964 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Immuneering during the second quarter valued at $57,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Immuneering during the first quarter valued at $108,000. Hedge funds and other institutional investors own 45.70% of the company’s stock.

About Immuneering

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Immuneering Corporation, a biopharmaceutical company, focuses on the oncology and neuroscience product candidates. Its lead product candidates include IMM-1-104, a dual-MEK inhibitor 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 to treat solid tumors.