Immuneering Co. (NASDAQ:IMRX) Short Interest Down 6.7% in October

Immuneering Co. (NASDAQ:IMRX) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,520,000 shares, a drop of 6.7% from the September 30th total of 1,630,000 shares. Based on an average daily trading volume, of 6,690,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 7.2% of the company’s shares are sold short.

Immuneering Stock Up 0.5 %

NASDAQ IMRX opened at $1.87 on Friday. The firm has a market cap of $55.45 million, a price-to-earnings ratio of -0.98 and a beta of -0.45. The business has a 50-day moving average price of $2.02 and a 200-day moving average price of $1.59. Immuneering has a twelve month low of $1.00 and a twelve month high of $8.89.

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

Institutional Trading of Immuneering

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Immuneering by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock valued at $3,479,000 after buying an additional 129,851 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Immuneering during the 2nd quarter valued at about $492,000. Renaissance Technologies LLC purchased a new stake in Immuneering during the 2nd quarter worth approximately $447,000. Acadian Asset Management LLC purchased a new stake in Immuneering during the 2nd quarter worth approximately $67,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Immuneering during the 2nd quarter worth approximately $44,000. Institutional investors own 67.65% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on IMRX shares. Chardan Capital lowered their price objective on Immuneering from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of Immuneering in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.60.

About Immuneering

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.