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

Needham & Company LLC reissued their buy rating on shares of Immuneering (NASDAQ:IMRX) in a research report released on Wednesday morning,Benzinga reports. They currently have a $9.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Chardan Capital reissued a “buy” rating and set a $13.00 price objective on shares of Immuneering in a report on Tuesday, May 6th. Oppenheimer decreased their target price on shares of Immuneering from $25.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Immuneering currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

Immuneering Price Performance

Shares of IMRX opened at $2.56 on Wednesday. The firm has a market capitalization of $92.13 million, a PE ratio of -1.31 and a beta of 0.01. Immuneering has a 1-year low of $1.00 and a 1-year high of $3.83. The company’s fifty day moving average price is $1.62 and its 200-day moving average price is $1.75.

Immuneering (NASDAQ:IMRX) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). As a group, research analysts anticipate that Immuneering will post -1.86 EPS for the current fiscal year.

Insider Activity at Immuneering

In other news, Director Thomas J. Schall acquired 40,485 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was acquired at an average price of $2.21 per share, for a total transaction of $89,471.85. Following the completion of the transaction, the director now owns 43,385 shares in the company, valued at approximately $95,880.85. The trade was a 1,396.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Benjamin J. Zeskind acquired 21,000 shares of the firm’s stock in a transaction on Wednesday, June 18th. The stock was purchased at an average price of $2.39 per share, with a total value of $50,190.00. Following the transaction, the chief executive officer now owns 2,302,852 shares of the company’s stock, valued at approximately $5,503,816.28. This trade represents a 0.92% increase in their position. The disclosure for this purchase can be found here. 22.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Tang Capital Management LLC acquired a new position in shares of Immuneering in the fourth quarter worth about $27,000. Jane Street Group LLC acquired a new position in shares of Immuneering in the first quarter worth about $32,000. Marshall Wace LLP acquired a new position in shares of Immuneering in the fourth quarter worth about $47,000. First Manhattan CO. LLC. acquired a new position in shares of Immuneering in the fourth quarter worth about $71,000. Finally, XTX Topco Ltd raised its position in shares of Immuneering by 177.2% in the fourth quarter. XTX Topco Ltd now owns 32,650 shares of the company’s stock worth $72,000 after acquiring an additional 20,871 shares during the period. Institutional investors and hedge funds 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.