Immuneering Co. (NASDAQ:IMRX) Stock Position Reduced by Millennium Management LLC

Millennium Management LLC decreased its holdings in shares of Immuneering Co. (NASDAQ:IMRX) by 58.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,936 shares of the company’s stock after selling 143,334 shares during the period. Millennium Management LLC owned about 0.33% of Immuneering worth $226,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its stake in Immuneering by 33.7% during the fourth quarter. HighTower Advisors LLC now owns 71,360 shares of the company’s stock valued at $157,000 after purchasing an additional 18,000 shares during the last quarter. XTX Topco Ltd increased its stake in Immuneering by 177.2% during the fourth quarter. XTX Topco Ltd now owns 32,650 shares of the company’s stock valued at $72,000 after purchasing an additional 20,871 shares during the last quarter. Marshall Wace LLP bought a new stake in Immuneering during the fourth quarter valued at $47,000. Bridgeway Capital Management LLC increased its stake in Immuneering by 77.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 51,349 shares of the company’s stock valued at $113,000 after purchasing an additional 22,400 shares during the last quarter. Finally, First Manhattan CO. LLC. bought a new stake in Immuneering during the fourth quarter valued at $71,000. Institutional investors own 67.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Chardan Capital reiterated a “buy” rating and set a $13.00 target price on shares of Immuneering in a research note on Tuesday, May 6th. Oppenheimer reduced their price target on shares of Immuneering from $25.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Immuneering in a report on Thursday, June 5th.

Immuneering Stock Performance

Shares of IMRX opened at $2.12 on Thursday. Immuneering Co. has a 1 year low of $1.00 and a 1 year high of $3.83. The company has a market cap of $76.29 million, a price-to-earnings ratio of -1.08 and a beta of 0.01. The firm has a fifty day moving average of $1.48 and a 200-day moving average of $1.74.

Immuneering (NASDAQ:IMRX) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.01). Analysts predict that Immuneering Co. will post -1.86 EPS for the current year.

Immuneering 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.