Short Interest in Immuneering Co. (NASDAQ:IMRX) Increases By 43.0%

Immuneering Co. (NASDAQ:IMRX – Get Rating) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,930,000 shares, an increase of 43.0% from the March 15th total of 1,350,000 shares. Based on an average daily volume of 161,700 shares, the short-interest ratio is currently 11.9 days. Currently, 10.1% of the company’s shares are short sold.

Immuneering stock traded down $0.03 during mid-day trading on Friday, hitting $6.39. 160,672 shares of the company were exchanged, compared to its average volume of 238,414. Immuneering has a 12-month low of $5.98 and a 12-month high of $33.99. The business’s 50 day simple moving average is $7.51 and its two-hundred day simple moving average is $16.29.

Immuneering (NASDAQ:IMRX – Get Rating) last issued its earnings results on Thursday, March 10th. The company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.03). The company had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $0.60 million. On average, analysts forecast that Immuneering will post -2.01 EPS for the current fiscal year.

In other Immuneering news, Director Ann E. Berman purchased 6,000 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The shares were acquired at an average price of $6.40 per share, with a total value of $38,400.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders bought 9,900 shares of company stock worth $69,201.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Immuneering by 12.6% during the fourth quarter. BlackRock Inc. now owns 1,716,170 shares of the company’s stock worth $27,750,000 after acquiring an additional 191,796 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Immuneering by 23,059.1% in the fourth quarter. Wells Fargo & Company MN now owns 10,190 shares of the company’s stock valued at $165,000 after buying an additional 10,146 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in Immuneering in the fourth quarter valued at about $213,000. Adage Capital Partners GP L.L.C. bought a new stake in Immuneering in the fourth quarter valued at about $5,077,000. Finally, State Street Corp increased its holdings in Immuneering by 18.5% in the fourth quarter. State Street Corp now owns 119,941 shares of the company’s stock valued at $1,939,000 after buying an additional 18,739 shares during the last quarter. 46.75% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $35.00 price objective on shares of Immuneering in a report on Thursday, December 30th. Zacks Investment Research downgraded Immuneering from a “buy” rating to a “hold” rating in a report on Monday, March 14th. Guggenheim cut their price target on Immuneering from $42.00 to $30.00 in a report on Monday, January 3rd. Oppenheimer initiated coverage on Immuneering in a report on Thursday, March 31st. They set an “outperform” rating and a $25.00 price target on the stock. Finally, Piper Sandler initiated coverage on Immuneering in a report on Friday, January 7th. They issued an “overweight” rating and a $41.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $30.17.

About Immuneering (Get Rating)

Immuneering Corporation, a biopharmaceutical company, focuses on the oncology and neuroscience product candidates. Its lead product candidates include IMM-1-104, a dual-MEK inhibitor 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 to treat solid tumors.

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