Immuneering Co. (NASDAQ:IMRX) Short Interest Update

Immuneering Co. (NASDAQ:IMRX) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 771,300 shares, a decline of 27.9% from the March 31st total of 1,070,000 shares. Based on an average daily trading volume, of 215,400 shares, the days-to-cover ratio is presently 3.6 days. Approximately 3.0% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IMRX. Needham & Company LLC reissued a “buy” rating and set a $12.00 price objective on shares of Immuneering in a report on Thursday, April 10th. Chardan Capital reaffirmed a “buy” rating and issued a $13.00 price target on shares of Immuneering in a report on Monday, March 24th.

Immuneering Stock Performance

NASDAQ:IMRX opened at $1.47 on Wednesday. The firm’s fifty day moving average is $1.50 and its two-hundred day moving average is $1.84. Immuneering has a one year low of $1.00 and a one year high of $3.83. The firm has a market cap of $52.90 million, a price-to-earnings ratio of -0.75 and a beta of -0.25.

Immuneering (NASDAQ:IMRX) last posted its earnings results on Thursday, March 20th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.16). As a group, equities research analysts predict that Immuneering will post -1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immuneering

Hedge funds have recently modified their holdings of the company. Tang Capital Management LLC purchased a new stake in shares of Immuneering during the 4th quarter worth about $27,000. Marshall Wace LLP acquired a new position in shares of Immuneering during the 4th quarter worth about $47,000. First Manhattan CO. LLC. acquired a new position in shares of Immuneering during the 4th quarter worth about $71,000. XTX Topco Ltd raised its position in shares of Immuneering by 177.2% during the 4th quarter. XTX Topco Ltd now owns 32,650 shares of the company’s stock worth $72,000 after purchasing an additional 20,871 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Immuneering by 25.0% during the 4th quarter. Two Sigma Investments LP now owns 50,557 shares of the company’s stock worth $111,000 after purchasing an additional 10,126 shares during the last quarter. 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.