Immuneering Co. (NASDAQ:IMRX) Short Interest Update

Immuneering Co. (NASDAQ:IMRX) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,760,000 shares, a drop of 23.1% from the December 15th total of 2,290,000 shares. Based on an average daily volume of 2,290,000 shares, the short-interest ratio is presently 0.8 days. Currently, 7.9% of the company’s stock are short sold.

Analyst Ratings Changes

Several research firms have recently weighed in on IMRX. Chardan Capital restated a “buy” rating and issued a $13.00 price target on shares of Immuneering in a research note on Wednesday, January 8th. Morgan Stanley lowered Immuneering from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Immuneering in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Immuneering presently has an average rating of “Hold” and an average target price of $12.80.

Immuneering Stock Performance

Immuneering stock opened at $2.02 on Friday. Immuneering has a one year low of $1.00 and a one year high of $7.68. The stock has a fifty day moving average of $2.05 and a 200 day moving average of $1.79. The stock has a market cap of $62.72 million, a PE ratio of -1.03 and a beta of -0.34.

Institutional Investors Weigh In On Immuneering

Large investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in shares of Immuneering in the second quarter worth approximately $492,000. Renaissance Technologies LLC purchased a new stake in Immuneering during the second quarter valued at approximately $447,000. HighTower Advisors LLC raised its position in Immuneering by 21.4% in the third quarter. HighTower Advisors LLC now owns 53,360 shares of the company’s stock worth $132,000 after acquiring an additional 9,400 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Immuneering during the 2nd quarter worth $67,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Immuneering during the 2nd quarter valued at $44,000. 67.65% of the stock is currently owned by institutional investors.

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.