Immuneering (NASDAQ:IMRX) Downgraded to Underweight Rating by Morgan Stanley

Morgan Stanley lowered shares of Immuneering (NASDAQ:IMRX) from an equal weight rating to an underweight rating in a research note issued to investors on Friday, Marketbeat.com reports.

Several other equities research analysts also recently weighed in on IMRX. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Immuneering in a report on Thursday, November 14th. Chardan Capital restated a “buy” rating and set a $13.00 price objective on shares of Immuneering in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.80.

Immuneering Trading Down 17.0 %

Shares of IMRX stock opened at $1.64 on Friday. Immuneering has a 12-month low of $1.00 and a 12-month high of $8.41. The business’s fifty day simple moving average is $2.06 and its 200-day simple moving average is $1.69. The company has a market cap of $50.77 million, a PE ratio of -0.83 and a beta of -0.33.

Hedge Funds Weigh In On Immuneering

Several large investors have recently made changes to their positions in IMRX. Vanguard Group Inc. increased its holdings in Immuneering by 12.1% in the first quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock valued at $3,479,000 after buying an additional 129,851 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Immuneering during the 2nd quarter valued at about $67,000. Renaissance Technologies LLC acquired a new stake in shares of Immuneering during the 2nd quarter valued at about $447,000. XTX Topco Ltd increased its stake in shares of 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 purchasing an additional 9,274 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Immuneering in the 2nd quarter worth about $492,000. 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.