Immuneering (NASDAQ:IMRX) Shares Down 13%

Immuneering Co. (NASDAQ:IMRXGet Rating)’s share price fell 13% during trading on Thursday . The stock traded as low as $10.22 and last traded at $10.54. 54,525 shares traded hands during trading, a decline of 52% from the average session volume of 113,896 shares. The stock had previously closed at $12.12.

Wall Street Analyst Weigh In

IMRX has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Immuneering from $18.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. Chardan Capital initiated coverage on shares of Immuneering in a research note on Friday, July 8th. They issued a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Immuneering presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.83.

Immuneering Stock Performance

The company has a market capitalization of $278.17 million, a P/E ratio of -5.79 and a beta of 1.11. The stock has a 50 day moving average price of $7.76 and a 200 day moving average price of $6.45.

Immuneering (NASDAQ:IMRXGet Rating) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08. Immuneering had a negative return on equity of 29.56% and a negative net margin of 4,604.32%. The business had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.27 million. As a group, sell-side analysts expect that Immuneering Co. will post -1.99 earnings per share for the current year.

Institutional Investors Weigh In On Immuneering

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp boosted its stake in Immuneering by 4.5% in the fourth quarter. Northern Trust Corp now owns 75,891 shares of the company’s stock worth $1,227,000 after buying an additional 3,279 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Immuneering during the fourth quarter valued at approximately $5,077,000. TD Asset Management Inc. boosted its stake in shares of Immuneering by 253.4% during the first quarter. TD Asset Management Inc. now owns 121,201 shares of the company’s stock valued at $784,000 after purchasing an additional 86,905 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Immuneering by 119.5% during the first quarter. JPMorgan Chase & Co. now owns 11,969 shares of the company’s stock valued at $78,000 after purchasing an additional 6,515 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Immuneering by 102.9% during the first quarter. Bank of New York Mellon Corp now owns 48,431 shares of the company’s stock valued at $314,000 after acquiring an additional 24,556 shares in the last quarter. 46.04% of the stock is currently owned by institutional investors.

About Immuneering

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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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