Needham & Company LLC Boosts Immuneering (NASDAQ:IMRX) Price Target to $11.00

Immuneering (NASDAQ:IMRX) had its price target raised by investment analysts at Needham & Company LLC from $8.00 to $11.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 29.56% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Mizuho raised their target price on Immuneering from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, June 18th. Chardan Capital restated a “buy” rating and set a $13.00 target price on shares of Immuneering in a research note on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Immuneering presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.75.

Immuneering Price Performance

Shares of Immuneering stock opened at $8.49 on Monday. The business has a 50-day moving average of $4.57 and a 200-day moving average of $2.74. The company has a market capitalization of $352.93 million, a PE ratio of -4.49 and a beta of 0.43. Immuneering has a 1-year low of $1.10 and a 1-year high of $9.37.

Immuneering (NASDAQ:IMRX) last announced its earnings results on Wednesday, August 13th. The company reported ($0.40) earnings per share for the quarter, meeting the consensus estimate of ($0.40). On average, equities analysts expect that Immuneering will post -1.86 earnings per share for the current fiscal year.

Insider Activity

In other Immuneering news, Director Peter Feinberg purchased 25,000 shares of the business’s stock in a transaction dated Wednesday, June 18th. The shares were bought at an average price of $2.53 per share, with a total value of $63,250.00. Following the completion of the acquisition, the director owned 136,766 shares in the company, valued at approximately $346,017.98. This represents a 22.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Benjamin J. Zeskind purchased 21,000 shares of the business’s stock in a transaction dated Wednesday, June 18th. The shares were acquired at an average cost of $2.39 per share, for a total transaction of $50,190.00. Following the acquisition, the chief executive officer owned 2,302,852 shares of the company’s stock, valued at approximately $5,503,816.28. The trade was a 0.92% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 127,507 shares of company stock valued at $334,318. Insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Immuneering

Hedge funds have recently made changes to their positions in the business. Tang Capital Management LLC acquired a new position in shares of Immuneering during the fourth quarter valued at approximately $27,000. Two Sigma Investments LP raised its holdings in Immuneering by 25.0% during the fourth quarter. Two Sigma Investments LP now owns 50,557 shares of the company’s stock worth $111,000 after purchasing an additional 10,126 shares in the last quarter. HighTower Advisors LLC raised its holdings in Immuneering by 17.7% during the first quarter. HighTower Advisors LLC now owns 83,960 shares of the company’s stock worth $128,000 after purchasing an additional 12,600 shares in the last quarter. Jane Street Group LLC bought a new stake in Immuneering during the first quarter worth approximately $32,000. Finally, Flower City Capital bought a new stake in Immuneering during the second quarter worth approximately $108,000. 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.