Short Interest in Immuneering Co. (NASDAQ:IMRX) Drops By 23.1%

Immuneering Co. (NASDAQ:IMRX) was the recipient of a significant decline in short interest in 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. Based on an average daily volume of 2,290,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 7.9% of the company’s stock are sold short.

Immuneering Price Performance

Immuneering stock opened at $1.94 on Friday. Immuneering has a 12-month low of $1.00 and a 12-month high of $7.68. The stock has a 50-day simple moving average of $2.07 and a 200 day simple moving average of $1.85.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Immuneering in a research report on Monday, January 13th. Chardan Capital reissued a “buy” rating and set a $13.00 target price on shares of Immuneering in a research report on Wednesday, January 8th. Finally, Morgan Stanley lowered 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, the company currently has an average rating of “Hold” and a consensus target price of $12.80.

Institutional Trading of Immuneering

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new position in Immuneering in the second quarter valued at about $447,000. XTX Topco Ltd grew its position in shares of Immuneering by 37.3% during the 2nd quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock worth $44,000 after buying an additional 9,274 shares during the period. Marshall Wace LLP bought a new stake in shares of Immuneering during the second quarter worth approximately $492,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Immuneering in the second quarter valued at approximately $44,000. Finally, Vontobel Holding Ltd. bought a new position in Immuneering in the third quarter valued at approximately $25,000. Institutional investors and hedge funds own 67.65% of the company’s stock.

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.