Immuneering’s (IMRX) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Immuneering (NASDAQ:IMRX) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $15.00 price objective on the stock.

A number of other brokerages have also weighed in on IMRX. Chardan Capital reaffirmed a “buy” rating and issued a $13.00 price target on shares of Immuneering in a research note on Wednesday, November 20th. Morgan Stanley downgraded Immuneering from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Immuneering presently has a consensus rating of “Hold” and a consensus price target of $12.80.

Immuneering Stock Performance

Shares of NASDAQ IMRX opened at $2.36 on Tuesday. The firm has a fifty day moving average of $2.04 and a 200 day moving average of $1.77. The firm has a market cap of $73.28 million, a PE ratio of -1.20 and a beta of -0.34. Immuneering has a one year low of $1.00 and a one year high of $7.68.

Institutional Investors Weigh In On Immuneering

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Immuneering in the 2nd quarter valued at about $67,000. Renaissance Technologies LLC purchased a new stake in shares of Immuneering during the 2nd quarter valued at approximately $447,000. XTX Topco Ltd lifted its holdings 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. Marshall Wace LLP purchased a new position in Immuneering in the second quarter worth approximately $492,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Immuneering during the second quarter worth $44,000. Hedge funds and other institutional investors own 67.65% of the company’s stock.

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.