Immuneering Co. (NASDAQ:IMRX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Immuneering Co. (NASDAQ:IMRX) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $13.50.

Several analysts have weighed in on the stock. Chardan Capital dropped their target price on shares of Immuneering from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Immuneering in a research report on Friday, April 12th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.00 price objective (down from $16.00) on shares of Immuneering in a report on Friday, March 15th. TD Cowen reaffirmed a “market perform” rating on shares of Immuneering in a report on Friday, March 15th. Finally, Mizuho dropped their price objective on shares of Immuneering from $20.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd.

Immuneering Trading Up 5.1 %

NASDAQ:IMRX opened at $1.64 on Friday. The company has a market cap of $48.63 million, a PE ratio of -0.87 and a beta of -0.60. Immuneering has a twelve month low of $1.38 and a twelve month high of $11.92. The company’s 50 day moving average is $3.29 and its two-hundred day moving average is $5.38.

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

Insider Buying and Selling

In other news, Director Ann E. Berman purchased 57,965 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average cost of $2.13 per share, with a total value of $123,465.45. Following the completion of the acquisition, the director now owns 67,465 shares of the company’s stock, valued at approximately $143,700.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Cormorant Asset Management, Lp sold 400,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $2.90, for a total transaction of $1,160,000.00. Following the sale, the insider now directly owns 2,895,273 shares of the company’s stock, valued at $8,396,291.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann E. Berman acquired 57,965 shares of Immuneering stock in a transaction on Monday, March 18th. The shares were bought at an average price of $2.13 per share, with a total value of $123,465.45. Following the completion of the transaction, the director now directly owns 67,465 shares of the company’s stock, valued at approximately $143,700.45. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 111,790 shares of company stock valued at $266,645. Corporate insiders own 23.00% of the company’s stock.

Hedge Funds Weigh In On Immuneering

A number of large investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its position in Immuneering by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,416 shares of the company’s stock worth $128,000 after acquiring an additional 4,417 shares during the period. Southport Management L.L.C. acquired a new position in Immuneering during the third quarter worth $134,000. Corton Capital Inc. acquired a new position in Immuneering during the third quarter worth $145,000. Adage Capital Partners GP L.L.C. raised its position in Immuneering by 11.4% during the third quarter. Adage Capital Partners GP L.L.C. now owns 195,000 shares of the company’s stock worth $1,498,000 after acquiring an additional 20,000 shares during the period. Finally, PNC Financial Services Group Inc. acquired a new position in Immuneering during the third quarter worth $154,000. 67.65% of the stock is currently 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.