Immuneering Co. (NASDAQ:IMRX) Receives $13.50 Consensus Target Price from Analysts

Immuneering Co. (NASDAQ:IMRX) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $13.50.

IMRX has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Immuneering in a report on Friday, April 12th. TD Cowen restated a “market perform” rating on shares of Immuneering in a research note on Friday, March 15th. Guggenheim reaffirmed a “neutral” rating on shares of Immuneering in a research note on Thursday, March 14th. Mizuho decreased their target price on Immuneering from $20.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $3.00 price target (down previously from $16.00) on shares of Immuneering in a report on Friday, March 15th.

Insider Activity

In other Immuneering news, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $3.72, for a total value of $1,893,818.52. Following the completion of the transaction, the insider now owns 3,695,273 shares in the company, valued at approximately $13,746,415.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of Immuneering stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $3.72, for a total transaction of $1,893,818.52. Following the sale, the insider now owns 3,695,273 shares of the company’s stock, valued at $13,746,415.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann E. Berman acquired 57,965 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average price of $2.13 per share, for a total transaction of $123,465.45. Following the purchase, the director now directly owns 67,465 shares of the company’s stock, valued at $143,700.45. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 111,790 shares of company stock valued at $266,645. 23.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IMRX. Adage Capital Partners GP L.L.C. grew its position in Immuneering by 11.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 195,000 shares of the company’s stock worth $1,498,000 after buying an additional 20,000 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Immuneering by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,416 shares of the company’s stock worth $128,000 after purchasing an additional 4,417 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in Immuneering during the 3rd quarter worth approximately $154,000. TD Asset Management Inc grew its position in Immuneering by 100.0% during the 3rd quarter. TD Asset Management Inc now owns 284,476 shares of the company’s stock worth $2,185,000 after purchasing an additional 142,238 shares in the last quarter. Finally, Corton Capital Inc. purchased a new position in Immuneering during the 3rd quarter worth approximately $145,000. Institutional investors and hedge funds own 67.65% of the company’s stock.

Immuneering Price Performance

Shares of IMRX stock opened at $1.65 on Friday. The firm’s 50-day simple moving average is $3.19 and its 200-day simple moving average is $5.34. Immuneering has a 1-year low of $1.38 and a 1-year high of $11.92. The firm has a market cap of $48.93 million, a P/E ratio of -0.87 and a beta of -0.60.

Immuneering (NASDAQ:IMRX) last issued its quarterly earnings results on Friday, March 1st. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.06). Analysts expect that Immuneering will post -1.89 earnings per share for the current fiscal year.

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.