Immuneering (NASDAQ:IMRX) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Immuneering (NASDAQ:IMRX) in a report released on Friday, Benzinga reports. They currently have a $15.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group reaffirmed a hold rating and set a $3.00 target price (down previously from $16.00) on shares of Immuneering in a research note on Friday, March 15th. Oppenheimer reiterated an outperform rating and issued a $25.00 price target on shares of Immuneering in a report on Tuesday, March 5th. Chardan Capital lowered their price target on Immuneering from $21.00 to $16.00 and set a buy rating for the company in a report on Friday, March 15th. Mizuho lowered their price target on Immuneering from $20.00 to $8.00 and set a buy rating for the company in a report on Tuesday, April 2nd. Finally, Guggenheim reiterated a neutral rating on shares of Immuneering in a report on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and four have assigned 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.

Immuneering Stock Performance

IMRX opened at $1.92 on Friday. The stock has a market cap of $56.07 million, a price-to-earnings ratio of -1.01 and a beta of -0.89. The stock’s 50 day moving average price is $4.53 and its 200-day moving average price is $5.86. Immuneering has a one year low of $1.89 and a one year high of $14.29.

Immuneering (NASDAQ:IMRX) last released its earnings results on Friday, March 1st. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.06). As a group, analysts predict that Immuneering will post -1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Immuneering news, major shareholder Cormorant Asset Management, Lp sold 400,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $2.90, for a total transaction of $1,160,000.00. Following the completion of the sale, the insider now owns 2,895,273 shares in the company, valued at $8,396,291.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Cormorant Asset Management, Lp sold 400,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $2.90, for a total transaction of $1,160,000.00. Following the completion of the sale, the insider now owns 2,895,273 shares in the company, valued at approximately $8,396,291.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann E. Berman acquired 57,965 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were acquired at an average price of $2.13 per share, with a total value of $123,465.45. Following the acquisition, the director now owns 67,465 shares in the company, valued at approximately $143,700.45. The disclosure for this purchase can be found here. Insiders purchased a total of 111,790 shares of company stock worth $266,645 over the last 90 days. Company insiders own 23.00% of the company’s stock.

Institutional Trading of Immuneering

Several hedge funds and other institutional investors have recently made changes to their positions in IMRX. JPMorgan Chase & Co. lifted its holdings in shares of Immuneering by 119.5% during the 1st quarter. JPMorgan Chase & Co. now owns 11,969 shares of the company’s stock valued at $78,000 after purchasing an additional 6,515 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Immuneering by 102.9% in the 1st quarter. Bank of New York Mellon Corp now owns 48,431 shares of the company’s stock valued at $314,000 after acquiring an additional 24,556 shares during the period. Rhumbline Advisers acquired a new position in shares of Immuneering in the 1st quarter valued at $89,000. BlackRock Inc. increased its position in shares of Immuneering by 23.7% in the 1st quarter. BlackRock Inc. now owns 2,123,374 shares of the company’s stock valued at $13,739,000 after acquiring an additional 407,204 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Immuneering by 158.8% in the 1st quarter. Vanguard Group Inc. now owns 812,392 shares of the company’s stock valued at $5,256,000 after acquiring an additional 498,479 shares during the period. Hedge funds and other institutional investors own 67.65% of the company’s stock.

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.