Needham & Company LLC Reaffirms “Buy” Rating for Immuneering (NASDAQ:IMRX)

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $12.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 13th. Chardan Capital reissued a “buy” rating and issued a $13.00 target price on shares of Immuneering in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.20.

Immuneering Stock Performance

Shares of IMRX stock opened at $1.90 on Thursday. The company has a market capitalization of $59.00 million, a price-to-earnings ratio of -0.96 and a beta of -0.36. Immuneering has a one year low of $1.00 and a one year high of $7.68. The company’s 50-day moving average is $2.05 and its 200 day moving average is $1.88.

Institutional Investors Weigh In On Immuneering

Hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its position in Immuneering by 21.4% during the third quarter. HighTower Advisors LLC now owns 53,360 shares of the company’s stock valued at $132,000 after acquiring an additional 9,400 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Immuneering during the 3rd quarter valued at about $25,000. Corsair Capital Management L.P. bought a new position in shares of Immuneering in the 3rd quarter worth approximately $25,000. Tidemark LLC purchased a new position in shares of Immuneering in the third quarter worth approximately $129,000. Finally, Renaissance Technologies LLC bought a new stake in Immuneering during the second quarter valued at approximately $447,000. 67.65% of the stock is currently owned by hedge funds and other institutional investors.

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.