Immuneering’s (IMRX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Immuneering (NASDAQ:IMRX) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $15.00 target price on the stock.

A number of other equities research analysts also recently commented on IMRX. Morgan Stanley downgraded Immuneering from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 13th. Chardan Capital reaffirmed a “buy” rating and set a $13.00 price objective on shares of Immuneering in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.80.

Immuneering Stock Performance

Shares of NASDAQ IMRX opened at $2.00 on Tuesday. The company has a market cap of $62.10 million, a P/E ratio of -1.02 and a beta of -0.34. Immuneering has a 52-week low of $1.00 and a 52-week high of $7.68. The firm’s fifty day moving average is $2.04 and its two-hundred day moving average is $1.77.

Institutional Investors Weigh In On Immuneering

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Corsair Capital Management L.P. bought a new position in shares of Immuneering during the 3rd quarter valued at approximately $25,000. Vontobel Holding Ltd. purchased a new position in Immuneering during the third quarter worth $25,000. XTX Topco Ltd increased its position in Immuneering by 37.3% during the second quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock valued at $44,000 after acquiring an additional 9,274 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Immuneering in the second quarter valued at $44,000. Finally, Tidemark LLC bought a new stake in shares of Immuneering in the 3rd quarter worth about $129,000. 67.65% of the stock is currently owned by hedge funds and other 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.