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

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $15.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 474.71% from the stock’s current price.

A number of other analysts have also recently issued reports on IMRX. Chardan Capital reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Immuneering in a research report on Wednesday, November 20th. Morgan Stanley downgraded Immuneering from an “equal weight” rating to an “underweight” rating in a report on Friday, December 13th. One 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. Based on data from MarketBeat.com, Immuneering has a consensus rating of “Hold” and an average target price of $12.80.

Immuneering Stock Up 10.6 %

Shares of IMRX stock traded up $0.25 on Tuesday, reaching $2.61. The stock had a trading volume of 69,473,452 shares, compared to its average volume of 16,953,408. Immuneering has a 12 month low of $1.00 and a 12 month high of $7.68. The firm has a market capitalization of $81.04 million, a price-to-earnings ratio of -1.32 and a beta of -0.34. The firm’s 50-day moving average is $2.03 and its two-hundred day moving average is $1.76.

Hedge Funds Weigh In On Immuneering

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMRX. HighTower Advisors LLC increased its position 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 purchasing an additional 9,400 shares during the period. Corsair Capital Management L.P. acquired a new stake in Immuneering during the third quarter worth about $25,000. Tidemark LLC bought a new position in Immuneering in the 3rd quarter valued at about $129,000. Vontobel Holding Ltd. acquired a new position in shares of Immuneering in the 3rd quarter valued at approximately $25,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Immuneering during the 2nd quarter worth approximately $44,000. 67.65% of the stock is owned by institutional investors and hedge funds.

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.