Immuneering (NASDAQ:IMRX) Cut to Underweight at Morgan Stanley

Morgan Stanley cut shares of Immuneering (NASDAQ:IMRX) from an equal weight rating to an underweight rating in a research note released on Friday, Marketbeat.com reports.

IMRX has been the topic of several other reports. Chardan Capital reiterated a “buy” rating and set a $13.00 price target on shares of Immuneering in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Immuneering in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.80.

Immuneering Stock Down 17.0 %

IMRX stock opened at $1.64 on Friday. Immuneering has a twelve month low of $1.00 and a twelve month high of $8.41. The stock has a market capitalization of $50.77 million, a price-to-earnings ratio of -0.83 and a beta of -0.33. The firm’s fifty day simple moving average is $2.06 and its two-hundred day simple moving average is $1.69.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vontobel Holding Ltd. bought a new stake in shares of Immuneering in the 3rd quarter valued at about $25,000. Corsair Capital Management L.P. bought a new position in Immuneering in the third quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Immuneering during the second quarter worth $44,000. XTX Topco Ltd boosted its position in Immuneering by 37.3% during the 2nd 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 in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Immuneering in the 2nd quarter valued at $67,000. 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.