Needham & Company LLC Reaffirms Buy Rating for Immuneering (NASDAQ:IMRX)

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They presently have a $15.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Oppenheimer reiterated an “outperform” rating and issued a $25.00 price objective on shares of Immuneering in a research note on Tuesday, March 5th. TD Cowen reiterated a “market perform” rating on shares of Immuneering in a report on Friday, March 15th. Mizuho reduced their price objective on shares of Immuneering from $20.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Chardan Capital lowered their target price on shares of Immuneering from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Finally, Guggenheim reissued a “neutral” rating on shares of Immuneering in a report on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Immuneering presently has an average rating of “Moderate Buy” and an average price target of $13.50.

Immuneering Stock Down 5.5 %

Shares of IMRX opened at $1.56 on Wednesday. Immuneering has a fifty-two week low of $1.38 and a fifty-two week high of $11.92. The company has a market cap of $46.25 million, a P/E ratio of -0.83 and a beta of -0.60. The firm’s 50 day moving average price is $3.00 and its 200 day moving average price is $5.28.

Immuneering (NASDAQ:IMRX) last posted its quarterly earnings data on Friday, March 1st. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.06). Research analysts forecast that Immuneering will post -1.89 earnings per share for the current year.

Insider Activity at Immuneering

In other news, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of Immuneering stock in a transaction dated 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 in the company, valued at $13,746,415.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Peter Feinberg purchased 25,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was acquired at an average price of $2.55 per share, for a total transaction of $63,750.00. Following the completion of the purchase, the director now directly owns 111,766 shares of the company’s stock, valued at $285,003.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of Immuneering stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $3.72, for a total transaction of $1,893,818.52. Following the completion of the transaction, the insider now owns 3,695,273 shares in the company, valued at $13,746,415.56. The disclosure for this sale can be found here. Insiders have purchased 111,790 shares of company stock valued at $266,645 in the last ninety days. Insiders own 25.00% of the company’s stock.

Hedge Funds Weigh In On Immuneering

A number of large investors have recently bought and sold shares of IMRX. TD Asset Management Inc increased its stake in shares of Immuneering by 100.0% during the third quarter. TD Asset Management Inc now owns 284,476 shares of the company’s stock worth $2,185,000 after acquiring an additional 142,238 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in Immuneering by 11.4% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 195,000 shares of the company’s stock valued at $1,498,000 after purchasing an additional 20,000 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Immuneering during the 3rd quarter worth approximately $154,000. Corton Capital Inc. purchased a new position in shares of Immuneering during the 3rd quarter worth approximately $145,000. Finally, Southport Management L.L.C. acquired a new stake in shares of Immuneering in the 3rd quarter valued at approximately $134,000. 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.