Immuneering (NASDAQ:IMRX) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Immuneering (NASDAQ:IMRX) in a research note released on Friday, Benzinga reports. The firm currently has a $15.00 price objective on the stock.

Separately, Chardan Capital decreased their price target on shares of Immuneering from $16.00 to $12.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $12.60.

Immuneering Price Performance

Shares of IMRX opened at $2.02 on Friday. The firm has a market capitalization of $59.89 million, a PE ratio of -1.08 and a beta of -0.61. The company’s 50-day moving average is $1.19 and its 200-day moving average is $1.93. Immuneering has a fifty-two week low of $1.00 and a fifty-two week high of $9.00.

Immuneering (NASDAQ:IMRX) last posted its earnings results on Tuesday, August 6th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.05. Analysts predict that Immuneering will post -1.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. XTX Topco Ltd increased its stake in Immuneering by 37.3% in the second quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock valued at $44,000 after acquiring an additional 9,274 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Immuneering in the 2nd quarter valued at $44,000. Acadian Asset Management LLC bought a new position in shares of Immuneering in the 2nd quarter valued at $67,000. Renaissance Technologies LLC acquired a new position in shares of Immuneering during the 2nd quarter worth $447,000. Finally, Marshall Wace LLP bought a new stake in shares of Immuneering during the 2nd quarter worth $492,000. 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.