Needham & Company LLC Reaffirms “Buy” Rating for Immuneering (NASDAQ:IMRX)

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $12.00 price target on the stock.

A number of other analysts have also recently weighed in on the company. Chardan Capital reiterated a “buy” rating and issued a $13.00 price target on shares of Immuneering in a research report on Wednesday, January 8th. Morgan Stanley cut Immuneering from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 13th.

Immuneering Stock Up 9.1 %

Shares of IMRX stock opened at $1.80 on Friday. Immuneering has a 12 month low of $1.00 and a 12 month high of $3.83. The firm has a market cap of $55.89 million, a PE ratio of -0.91 and a beta of -0.32. The stock has a 50 day moving average of $1.79 and a 200-day moving average of $1.99.

Immuneering (NASDAQ:IMRX) last issued its earnings results on Thursday, March 20th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.16). As a group, equities analysts predict that Immuneering will post -1.86 EPS for the current fiscal year.

Institutional Trading of Immuneering

Several large investors have recently made changes to their positions in IMRX. Corsair Capital Management L.P. bought a new stake in shares of Immuneering during the third quarter worth $25,000. Tang Capital Management LLC bought a new position in Immuneering in the fourth quarter valued at about $27,000. Marshall Wace LLP bought a new position in Immuneering in the fourth quarter valued at about $47,000. First Manhattan CO. LLC. bought a new position in Immuneering in the fourth quarter valued at about $71,000. Finally, XTX Topco Ltd boosted its holdings in Immuneering by 177.2% in the fourth quarter. XTX Topco Ltd now owns 32,650 shares of the company’s stock valued at $72,000 after acquiring an additional 20,871 shares during the last quarter. Institutional investors own 67.65% of the company’s stock.

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.