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

Shares of Immuneering Co. (NASDAQ:IMRX) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $13.50.

A number of brokerages have recently issued reports on IMRX. TD Cowen reaffirmed a “market perform” rating on shares of Immuneering in a report on Friday, March 15th. Chardan Capital dropped their price target on shares of Immuneering from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Immuneering in a report on Wednesday, May 8th. Jefferies Financial Group restated a “hold” rating and set a $3.00 price objective (down previously from $16.00) on shares of Immuneering in a research report on Friday, March 15th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Immuneering in a research report on Thursday, March 14th.

Insider Activity at Immuneering

In other news, major shareholder Cormorant Asset Management, Lp sold 400,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $2.90, for a total value of $1,160,000.00. Following the completion of the sale, the insider now directly owns 2,895,273 shares in the company, valued at approximately $8,396,291.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 25.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immuneering

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Immuneering by 12.1% during the first quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock valued at $3,479,000 after purchasing an additional 129,851 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Immuneering by 11.4% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 195,000 shares of the company’s stock valued at $1,498,000 after buying an additional 20,000 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in Immuneering in the 3rd quarter worth $154,000. Corton Capital Inc. purchased a new stake in Immuneering in the 3rd quarter worth $145,000. Finally, Exchange Traded Concepts LLC raised its holdings in Immuneering by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,416 shares of the company’s stock valued at $128,000 after acquiring an additional 4,417 shares during the period. 67.65% of the stock is owned by hedge funds and other institutional investors.

Immuneering Stock Performance

Shares of Immuneering stock opened at $1.43 on Friday. The company has a 50-day simple moving average of $1.53 and a two-hundred day simple moving average of $4.21. The stock has a market capitalization of $42.40 million, a PE ratio of -0.76 and a beta of -0.59. Immuneering has a 52-week low of $1.30 and a 52-week high of $11.81.

Immuneering (NASDAQ:IMRX) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). As a group, equities research analysts forecast that Immuneering will post -1.99 EPS for the current fiscal year.

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.