Immuneering (NASDAQ:IMRX) Posts Earnings Results, Misses Estimates By $0.01 EPS

Immuneering (NASDAQ:IMRX) posted its quarterly earnings data on Wednesday. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.01), FiscalAI reports.

Immuneering Trading Up 9.7%

Shares of IMRX traded up $0.64 during midday trading on Thursday, reaching $7.26. 983,625 shares of the company were exchanged, compared to its average volume of 1,448,506. The stock has a 50-day moving average price of $6.82 and a 200-day moving average price of $4.34. The company has a market cap of $301.88 million, a price-to-earnings ratio of -3.74 and a beta of 0.46. Immuneering has a 1-year low of $1.10 and a 1-year high of $10.08.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IMRX shares. Mizuho set a $12.00 target price on Immuneering in a report on Wednesday, October 29th. Leerink Partnrs upgraded shares of Immuneering to a “strong-buy” rating in a research report on Friday, October 31st. Needham & Company LLC lifted their price target on Immuneering from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, September 15th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of Immuneering in a research note on Tuesday, September 30th. Finally, Leerink Partners initiated coverage on Immuneering in a research report on Friday, October 31st. They set an “outperform” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.50.

Insiders Place Their Bets

In other news, Director Peter Feinberg acquired 7,500 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were acquired at an average price of $6.67 per share, with a total value of $50,025.00. Following the acquisition, the director directly owned 156,766 shares in the company, valued at approximately $1,045,629.22. The trade was a 5.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 20,800 shares of company stock worth $143,754 in the last three months. 22.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Immuneering

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Immuneering during the first quarter worth $32,000. XTX Topco Ltd acquired a new position in shares of Immuneering during the second quarter valued at about $90,000. Dimensional Fund Advisors LP increased its stake in Immuneering by 46.4% during the third quarter. Dimensional Fund Advisors LP now owns 19,562 shares of the company’s stock valued at $137,000 after acquiring an additional 6,196 shares during the period. Corient Private Wealth LLC acquired a new position in Immuneering during the second quarter worth $215,000. Finally, Bridgeway Capital Management LLC increased its holdings in Immuneering by 57.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 95,449 shares of the company’s stock valued at $322,000 after purchasing an additional 35,000 shares in the last quarter. Hedge funds and other institutional investors 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.