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

Needham & Company LLC reaffirmed their buy rating on shares of Immuneering (NASDAQ:IMRX) in a report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a $12.00 price target on the stock.

Several other analysts also recently issued reports on the company. Chardan Capital reiterated a “buy” rating and issued a $13.00 price target on shares of Immuneering in a report on Wednesday, January 8th. Morgan Stanley downgraded Immuneering from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 13th.

Immuneering Stock Performance

Shares of NASDAQ:IMRX opened at $1.80 on Friday. Immuneering has a 1 year low of $1.00 and a 1 year high of $3.83. The stock has a 50-day simple moving average of $1.79 and a 200-day simple moving average of $2.00. The stock has a market capitalization of $55.89 million, a P/E ratio of -0.91 and a beta of -0.32.

Immuneering (NASDAQ:IMRX) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.16). Analysts predict that Immuneering will post -1.86 earnings per share for the current year.

Hedge Funds Weigh In On Immuneering

A number of institutional investors have recently added to or reduced their stakes in IMRX. Two Sigma Investments LP boosted its position in Immuneering by 25.0% in the 4th quarter. Two Sigma Investments LP now owns 50,557 shares of the company’s stock valued at $111,000 after buying an additional 10,126 shares during the last quarter. Tang Capital Management LLC purchased a new position in Immuneering in the fourth quarter valued at about $27,000. Southport Management L.L.C. boosted its holdings in Immuneering by 4.9% in the fourth quarter. Southport Management L.L.C. now owns 215,000 shares of the company’s stock valued at $473,000 after purchasing an additional 10,000 shares during the last quarter. First Manhattan CO. LLC. purchased a new stake in Immuneering during the 4th quarter worth approximately $71,000. Finally, Bridgeway Capital Management LLC raised its position in shares of Immuneering by 77.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 51,349 shares of the company’s stock valued at $113,000 after purchasing an additional 22,400 shares in the last quarter. 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.