Immuneering’s (IMRX) “Buy” Rating Reaffirmed at Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $12.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 489.68% from the stock’s current price.

A number of other brokerages have also weighed in on IMRX. Chardan Capital reaffirmed a “buy” rating and set a $13.00 target price on shares of Immuneering in a research note on Wednesday, January 8th. Morgan Stanley lowered shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.20.

Immuneering Stock Up 6.5 %

Shares of IMRX traded up $0.13 during trading hours on Thursday, reaching $2.04. 659,230 shares of the company traded hands, compared to its average volume of 4,123,205. The company’s fifty day moving average price is $2.06 and its two-hundred day moving average price is $1.87. The company has a market capitalization of $63.19 million, a price-to-earnings ratio of -1.03 and a beta of -0.36. Immuneering has a 12 month low of $1.00 and a 12 month high of $7.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. bought a new position in shares of Immuneering in the third quarter worth approximately $25,000. Corsair Capital Management L.P. purchased a new position in shares of Immuneering during the third quarter valued at approximately $25,000. Tidemark LLC purchased a new position in shares of Immuneering during the third quarter valued at approximately $129,000. HighTower Advisors LLC raised its holdings in shares of 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 purchasing an additional 9,400 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Immuneering during the second quarter valued at approximately $447,000. Institutional investors 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.