Immuneering Co. (NASDAQ:IMRX) Short Interest Up 10.3% in March

Immuneering Co. (NASDAQ:IMRX) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,880,000 shares, an increase of 10.3% from the March 15th total of 2,610,000 shares. Approximately 14.0% of the company’s stock are sold short. Based on an average daily volume of 595,100 shares, the days-to-cover ratio is currently 4.8 days.

Analysts Set New Price Targets

IMRX has been the subject of a number of recent analyst reports. TD Cowen reaffirmed a “market perform” rating on shares of Immuneering in a report on Friday, March 15th. Guggenheim restated a “neutral” rating on shares of Immuneering in a research note on Thursday, March 14th. Mizuho dropped their price target on shares of Immuneering from $20.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Oppenheimer reissued an “outperform” rating and set a $25.00 price objective on shares of Immuneering in a report on Tuesday, March 5th. Finally, Chardan Capital lowered 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Insiders Place Their Bets

In related news, Director Ann E. Berman acquired 57,965 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 67,465 shares of the company’s stock, valued at approximately $143,700.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Benjamin J. Zeskind acquired 20,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were bought at an average cost of $2.77 per share, with a total value of $55,400.00. Following the transaction, the chief executive officer now owns 2,281,852 shares in the company, valued at approximately $6,320,730.04. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann E. Berman acquired 57,965 shares of Immuneering stock in a transaction dated Monday, March 18th. The stock was purchased at an average price of $2.13 per share, for a total transaction of $123,465.45. Following the completion of the acquisition, the director now directly owns 67,465 shares in the company, valued at approximately $143,700.45. The disclosure for this purchase can be found here. Insiders have purchased a total of 111,790 shares of company stock worth $266,645 in the last quarter. 23.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in shares of Immuneering by 13.0% in the third quarter. Rhumbline Advisers now owns 19,806 shares of the company’s stock valued at $152,000 after buying an additional 2,275 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Immuneering by 296.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,248 shares of the company’s stock valued at $25,000 after acquiring an additional 2,428 shares during the period. UBS Group AG purchased a new stake in Immuneering during the 1st quarter valued at approximately $26,000. Barclays PLC lifted its position in Immuneering by 56.1% during the 2nd quarter. Barclays PLC now owns 8,144 shares of the company’s stock worth $82,000 after acquiring an additional 2,927 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in 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 acquiring an additional 3,504 shares during the period. 67.65% of the stock is owned by hedge funds and other institutional investors.

Immuneering Stock Down 8.8 %

NASDAQ:IMRX opened at $1.92 on Tuesday. Immuneering has a 52-week low of $1.89 and a 52-week high of $14.29. The stock’s 50 day moving average price is $4.53 and its 200 day moving average price is $5.86. The company has a market capitalization of $56.07 million, a PE ratio of -1.01 and a beta of -0.89.

Immuneering (NASDAQ:IMRX) last announced its 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, sell-side analysts anticipate that Immuneering will post -1.89 EPS for the current fiscal year.

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.