Immuneering (NASDAQ:IMRX) Earns Buy Rating from Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $15.00 price target on the stock.

Several other research analysts have also recently commented on IMRX. Chardan Capital restated a “buy” rating and set a $13.00 target price on shares of Immuneering in a report on Wednesday, November 20th. Morgan Stanley downgraded shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.80.

Immuneering Stock Performance

NASDAQ IMRX opened at $2.00 on Tuesday. Immuneering has a 52 week low of $1.00 and a 52 week high of $7.68. The stock’s 50 day moving average price is $2.04 and its two-hundred day moving average price is $1.77. The stock has a market capitalization of $62.10 million, a price-to-earnings ratio of -1.02 and a beta of -0.34.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. bought a new position in Immuneering during the third quarter worth about $25,000. Corsair Capital Management L.P. bought a new position in shares of Immuneering during the 3rd quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Immuneering during the 2nd quarter worth approximately $44,000. XTX Topco Ltd raised its stake in Immuneering by 37.3% in the 2nd quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock valued at $44,000 after acquiring an additional 9,274 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Immuneering during the 2nd quarter valued at $67,000. 67.65% of the stock is currently owned by institutional investors and hedge funds.

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.