Immuneering (NASDAQ:IMRX) Given Buy Rating at Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $12.00 target price on the stock.

A number of other research analysts also recently commented on the stock. Morgan Stanley downgraded shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research note on Friday, December 13th. Chardan Capital reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Immuneering in a report on Wednesday, January 8th.

Immuneering Stock Performance

Immuneering stock opened at $1.65 on Friday. The company has a market cap of $51.23 million, a price-to-earnings ratio of -0.84 and a beta of -0.32. Immuneering has a 1 year low of $1.00 and a 1 year high of $3.83. The firm has a 50 day moving average price of $1.80 and a 200 day moving average price of $1.98.

Immuneering (NASDAQ:IMRX) last posted its earnings results on Thursday, March 20th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.16). Sell-side analysts predict that Immuneering will post -1.86 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC boosted its holdings in shares of Immuneering by 21.4% in the third quarter. HighTower Advisors LLC now owns 53,360 shares of the company’s stock worth $132,000 after buying an additional 9,400 shares during the period. Corsair Capital Management L.P. acquired a new position in shares of Immuneering in the third quarter worth about $25,000. Southport Management L.L.C. boosted its holdings in shares of Immuneering by 4.9% in the fourth quarter. Southport Management L.L.C. now owns 215,000 shares of the company’s stock worth $473,000 after buying an additional 10,000 shares during the period. Two Sigma Investments LP lifted its position in shares of Immuneering by 25.0% in the fourth 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 in the last quarter. Finally, Tang Capital Management LLC purchased a new stake in shares of Immuneering in the fourth quarter worth approximately $27,000. 67.65% of the stock is currently owned by institutional investors and hedge funds.

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.