Short Interest in Immuneering Co. (NASDAQ:IMRX) Expands By 41.4%

Immuneering Co. (NASDAQ:IMRX) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,290,000 shares, an increase of 41.4% from the November 30th total of 1,620,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 10.2% of the shares of the company are short sold.

Immuneering Trading Down 3.4 %

IMRX traded down $0.08 during midday trading on Monday, hitting $2.25. 323,886 shares of the company traded hands, compared to its average volume of 2,080,029. The company has a market capitalization of $69.86 million, a price-to-earnings ratio of -1.14 and a beta of -0.33. The business has a 50 day simple moving average of $2.01 and a two-hundred day simple moving average of $1.73. Immuneering has a 52-week low of $1.00 and a 52-week high of $7.68.

Institutional Investors Weigh In On Immuneering

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in Immuneering during the 2nd quarter worth $492,000. Renaissance Technologies LLC purchased a new stake in Immuneering in the 2nd quarter valued at $447,000. Acadian Asset Management LLC acquired a new stake in shares of Immuneering in the 2nd quarter worth $67,000. HighTower Advisors LLC increased its stake in shares of Immuneering by 21.4% in the 3rd quarter. HighTower Advisors LLC now owns 53,360 shares of the company’s stock worth $132,000 after acquiring an additional 9,400 shares during the last quarter. Finally, Tidemark LLC purchased a new position in shares of Immuneering during the 3rd quarter worth $129,000. 67.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on IMRX shares. Morgan Stanley lowered Immuneering from an “equal weight” rating to an “underweight” rating in a report on Friday, December 13th. Chardan Capital reaffirmed a “buy” rating and set a $13.00 price objective on shares of Immuneering in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Immuneering in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.80.

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.