Immuneering (NASDAQ:IMRX) Stock Rating Reaffirmed by Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They currently have a $15.00 price target on the stock.

A number of other analysts also recently issued reports on IMRX. Jefferies Financial Group restated a “hold” rating and set a $3.00 price target (down previously from $16.00) on shares of Immuneering in a report on Friday, March 15th. Guggenheim reiterated a “neutral” rating on shares of Immuneering in a report on Thursday, March 14th. Oppenheimer reiterated an “outperform” rating and issued a $25.00 target price on shares of Immuneering in a report on Tuesday, March 5th. Mizuho dropped their target price on shares of Immuneering from $20.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Finally, Chardan Capital dropped their target price on shares of Immuneering from $21.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 15th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Immuneering has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Immuneering Price Performance

Shares of NASDAQ IMRX opened at $2.10 on Friday. The company has a 50 day simple moving average of $4.60 and a 200-day simple moving average of $5.91. The company has a market capitalization of $61.49 million, a P/E ratio of -1.11 and a beta of -0.89. Immuneering has a 1 year low of $1.90 and a 1 year high of $14.29.

Immuneering (NASDAQ:IMRX) last announced its quarterly earnings results on Friday, March 1st. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.06). As a group, research analysts expect that Immuneering will post -1.89 EPS for the current year.

Insiders Place Their Bets

In other Immuneering news, major shareholder Cormorant Asset Management, Lp sold 400,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $2.90, for a total value of $1,160,000.00. Following the completion of the transaction, the insider now owns 2,895,273 shares in the company, valued at $8,396,291.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Immuneering news, Director Ann E. Berman purchased 57,965 shares of the company’s stock in a transaction on Monday, March 18th. The stock was acquired at an average price of $2.13 per share, for a total transaction of $123,465.45. Following the completion of the purchase, the director now directly owns 67,465 shares in the company, valued at approximately $143,700.45. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Cormorant Asset Management, Lp sold 400,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $2.90, for a total transaction of $1,160,000.00. Following the completion of the transaction, the insider now owns 2,895,273 shares of the company’s stock, valued at approximately $8,396,291.70. The disclosure for this sale can be found here. Insiders acquired a total of 111,790 shares of company stock worth $266,645 over the last 90 days. Corporate insiders own 23.00% of the company’s stock.

Institutional Investors Weigh In On Immuneering

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Immuneering by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 1,073,815 shares of the company’s stock worth $7,893,000 after purchasing an additional 29,963 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Immuneering during the 4th quarter worth $84,000. Barclays PLC lifted its position in shares of Immuneering by 327.0% during the 4th quarter. Barclays PLC now owns 34,923 shares of the company’s stock worth $257,000 after purchasing an additional 26,744 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Immuneering by 8.6% during the 4th quarter. Nuveen Asset Management LLC now owns 44,049 shares of the company’s stock worth $324,000 after purchasing an additional 3,504 shares during the last quarter. Finally, Oracle Alpha Inc. purchased a new stake in shares of Immuneering during the 4th quarter worth $87,000. 67.65% of the stock is owned by hedge funds and other institutional investors.

Immuneering Company Profile

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.