Immuneering Co. (NASDAQ:IMRX) Short Interest Update

Immuneering Co. (NASDAQ:IMRX) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,760,000 shares, a decline of 23.1% from the December 31st total of 2,290,000 shares. Approximately 7.9% of the shares of the company are sold short. Based on an average daily volume of 2,290,000 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On Immuneering

Large investors have recently made changes to their positions in the business. Corsair Capital Management L.P. bought a new stake in Immuneering during the 3rd quarter valued at approximately $25,000. Vontobel Holding Ltd. purchased a new position in shares of Immuneering in the third quarter worth $25,000. XTX Topco Ltd boosted its position in shares of Immuneering by 37.3% during the second quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock worth $44,000 after acquiring an additional 9,274 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Immuneering during the second quarter valued at $44,000. Finally, Tidemark LLC bought a new stake in Immuneering in the 3rd quarter valued at $129,000. 67.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Immuneering in a report on Monday, January 13th. Morgan Stanley cut shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research note on Friday, December 13th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $13.00 target price on shares of Immuneering in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Immuneering presently has a consensus rating of “Hold” and a consensus price target of $12.80.

Immuneering Stock Performance

IMRX opened at $1.91 on Thursday. The stock has a market cap of $59.31 million, a price-to-earnings ratio of -0.97 and a beta of -0.34. The firm’s fifty day moving average is $2.07 and its 200 day moving average is $1.85. Immuneering has a fifty-two week low of $1.00 and a fifty-two week high of $7.68.

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.