Short Interest in Immuneering Co. (NASDAQ:IMRX) Drops By 12.9%

Immuneering Co. (NASDAQ:IMRX) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 1,420,000 shares, a decrease of 12.9% from the February 28th total of 1,630,000 shares. Based on an average daily volume of 1,700,000 shares, the short-interest ratio is presently 0.8 days. Approximately 5.5% of the company’s shares are sold short.

Immuneering Stock Down 1.3 %

NASDAQ IMRX opened at $1.50 on Wednesday. Immuneering has a 52 week low of $1.00 and a 52 week high of $3.83. The business has a 50 day moving average price of $1.74 and a 200-day moving average price of $2.01. The company has a market cap of $53.83 million, a price-to-earnings ratio of -0.76 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 for the quarter, missing the consensus estimate of ($0.42) by ($0.16). On average, equities research analysts anticipate that Immuneering will post -1.86 earnings per share for the current year.

Analyst Ratings Changes

IMRX has been the subject of a number of research analyst reports. Morgan Stanley downgraded Immuneering from an “equal weight” rating to an “underweight” rating in a report on Friday, December 13th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Immuneering in a research note on Friday, March 21st. Finally, Chardan Capital reissued a “buy” rating and set a $13.00 target price on shares of Immuneering in a research note on Monday, March 24th.

Hedge Funds Weigh In On Immuneering

A number of hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its holdings in shares of Immuneering by 21.4% in 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 in the last quarter. Southport Management L.L.C. increased its stake in Immuneering by 4.9% in the 4th quarter. Southport Management L.L.C. now owns 215,000 shares of the company’s stock valued at $473,000 after buying an additional 10,000 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Immuneering by 25.0% in the fourth quarter. Two Sigma Investments LP now owns 50,557 shares of the company’s stock valued at $111,000 after acquiring an additional 10,126 shares in the last quarter. Tang Capital Management LLC purchased a new stake in shares of Immuneering during the fourth quarter valued at approximately $27,000. Finally, XTX Topco Ltd lifted its holdings in Immuneering by 177.2% during the fourth quarter. XTX Topco Ltd now owns 32,650 shares of the company’s stock worth $72,000 after acquiring an additional 20,871 shares during the period. 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.