Immuneering Corporation (NASDAQ:IMRX) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Immuneering Corporation (NASDAQ:IMRX) have been given an average rating of “Hold” by the seven analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $16.40.

IMRX has been the subject of several recent research reports. Chardan Capital increased their target price on shares of Immuneering from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Needham & Company LLC upped their price objective on shares of Immuneering from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, September 15th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Immuneering in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immuneering in a research note on Wednesday, October 8th. Finally, Oppenheimer upped their price objective on shares of Immuneering from $21.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, September 25th.

Insider Buying and Selling

In related news, Director Peter Feinberg acquired 7,500 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were purchased at an average cost of $6.67 per share, with a total value of $50,025.00. Following the completion of the transaction, the director owned 156,766 shares of the company’s stock, valued at approximately $1,045,629.22. This trade represents a 5.02% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased 20,800 shares of company stock worth $143,754 over the last quarter. Insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMRX. Iridian Asset Management LLC CT purchased a new position in Immuneering during the third quarter valued at approximately $1,926,000. Corient Private Wealth LLC purchased a new position in Immuneering during the second quarter valued at approximately $215,000. Bridgeway Capital Management LLC increased its holdings in Immuneering by 57.9% in the second quarter. Bridgeway Capital Management LLC now owns 95,449 shares of the company’s stock worth $322,000 after buying an additional 35,000 shares during the last quarter. Flower City Capital acquired a new position in Immuneering in the second quarter worth approximately $108,000. Finally, XTX Topco Ltd acquired a new position in Immuneering in the second quarter worth approximately $90,000. 67.65% of the stock is owned by hedge funds and other institutional investors.

Immuneering Price Performance

IMRX stock opened at $6.49 on Friday. Immuneering has a 12 month low of $1.10 and a 12 month high of $10.08. The firm has a market cap of $269.79 million, a PE ratio of -3.43 and a beta of 0.47. The firm has a 50 day simple moving average of $6.54 and a 200 day simple moving average of $3.94.

Immuneering (NASDAQ:IMRX) last released its earnings results on Wednesday, August 13th. The company reported ($0.40) EPS for the quarter, meeting the consensus estimate of ($0.40). As a group, sell-side analysts expect that Immuneering will post -1.86 earnings per share for the current year.

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.