Immuneering Co. (NASDAQ:IMRX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Immuneering Co. (NASDAQ:IMRX) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $13.50.

Several research firms recently commented on IMRX. Jefferies Financial Group reissued a “hold” rating and set a $3.00 target price (down from $16.00) on shares of Immuneering in a research note on Friday, March 15th. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of Immuneering in a research note on Wednesday. Mizuho reduced their target price on shares of Immuneering from $20.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Chardan Capital lowered their price target on shares of Immuneering from $21.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Immuneering in a research report on Tuesday, March 5th.

Immuneering Trading Up 4.5 %

Shares of IMRX opened at $1.63 on Friday. The firm has a market cap of $48.33 million, a P/E ratio of -0.86 and a beta of -0.60. The company’s 50-day moving average price is $3.00 and its 200 day moving average price is $5.28. Immuneering has a 12-month low of $1.38 and a 12-month high of $11.92.

Immuneering (NASDAQ:IMRX) last issued its quarterly earnings results on Friday, March 1st. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.06). Equities research analysts forecast that Immuneering will post -1.89 earnings per share for the current year.

Insider Activity at Immuneering

In other news, Director Ann E. Berman purchased 57,965 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average price of $2.13 per share, for a total transaction of $123,465.45. Following the purchase, the director now directly owns 67,465 shares of the company’s stock, valued at approximately $143,700.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Immuneering news, Director Ann E. Berman acquired 57,965 shares of the company’s stock in a transaction on Monday, March 18th. The shares were bought at an average cost of $2.13 per share, for a total transaction of $123,465.45. Following the completion of the purchase, the director now owns 67,465 shares in the company, valued at approximately $143,700.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $3.72, for a total value of $1,893,818.52. Following the completion of the transaction, the insider now owns 3,695,273 shares in the company, valued at approximately $13,746,415.56. The disclosure for this sale can be found here. Insiders purchased a total of 111,790 shares of company stock valued at $266,645 over the last ninety days. Insiders own 25.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in shares of Immuneering by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,416 shares of the company’s stock worth $128,000 after purchasing an additional 4,417 shares in the last quarter. Southport Management L.L.C. acquired a new stake in shares of Immuneering in the third quarter valued at about $134,000. Corton Capital Inc. purchased a new stake in Immuneering during the third quarter worth about $145,000. Adage Capital Partners GP L.L.C. grew its position in Immuneering by 11.4% during the third quarter. Adage Capital Partners GP L.L.C. now owns 195,000 shares of the company’s stock worth $1,498,000 after buying an additional 20,000 shares during the period. Finally, PNC Financial Services Group Inc. purchased a new position in Immuneering in the third quarter valued at about $154,000. 67.65% of the stock is currently owned by institutional investors and hedge funds.

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.