Immuneering Co. (NASDAQ:IMRX) Sees Large Drop in Short Interest

Immuneering Co. (NASDAQ:IMRX) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 2,730,000 shares, a drop of 5.2% from the March 31st total of 2,880,000 shares. Based on an average daily trading volume, of 677,400 shares, the short-interest ratio is presently 4.0 days. Currently, 13.2% of the company’s stock are short sold.

Immuneering Trading Up 7.7 %

NASDAQ:IMRX opened at $1.53 on Thursday. Immuneering has a 1 year low of $1.38 and a 1 year high of $11.92. The firm has a 50 day moving average of $3.49 and a 200-day moving average of $5.44. The stock has a market capitalization of $45.37 million, a P/E ratio of -0.81 and a beta of -0.89.

Immuneering (NASDAQ:IMRX) last posted its earnings results on Friday, March 1st. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.06). As a group, analysts forecast that Immuneering will post -1.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IMRX. Chardan Capital decreased their price objective on Immuneering from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Guggenheim reaffirmed a “neutral” rating on shares of Immuneering in a report on Thursday, March 14th. Mizuho decreased their price objective on Immuneering from $20.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Immuneering in a report on Friday, April 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $3.00 price objective (down from $16.00) on shares of Immuneering in a report on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Insider Buying and Selling at Immuneering

In other Immuneering news, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $3.72, for a total transaction of $1,893,818.52. Following the transaction, the insider now directly owns 3,695,273 shares in the company, valued at $13,746,415.56. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Benjamin J. Zeskind bought 20,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were bought at an average cost of $2.77 per share, for a total transaction of $55,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,281,852 shares in the company, valued at $6,320,730.04. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $3.72, for a total value of $1,893,818.52. Following the completion of the sale, the insider now directly owns 3,695,273 shares in the company, valued at $13,746,415.56. The disclosure for this sale can be found here. Insiders have purchased a total of 111,790 shares of company stock worth $266,645 over the last three months. Corporate insiders own 23.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its position in Immuneering by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 17,416 shares of the company’s stock worth $128,000 after purchasing an additional 4,417 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Immuneering by 11.4% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 195,000 shares of the company’s stock worth $1,498,000 after purchasing an additional 20,000 shares during the last quarter. Corton Capital Inc. bought a new position in Immuneering in the 3rd quarter worth approximately $145,000. Southport Management L.L.C. bought a new position in Immuneering in the 3rd quarter worth approximately $134,000. Finally, PNC Financial Services Group Inc. bought a new position in Immuneering in the 3rd quarter worth approximately $154,000. Institutional investors own 67.65% of the company’s stock.

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.