Immuneering Co. (NASDAQ:IMRX) Short Interest Update

Immuneering Co. (NASDAQ:IMRX) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 2,730,000 shares, a decrease of 5.2% from the March 31st total of 2,880,000 shares. Based on an average daily volume of 677,400 shares, the days-to-cover ratio is currently 4.0 days. Approximately 13.2% of the company’s shares are short sold.

Immuneering Trading Down 4.1 %

Shares of Immuneering stock traded down $0.06 during trading on Tuesday, hitting $1.42. 570,275 shares of the stock were exchanged, compared to its average volume of 561,883. Immuneering has a 1-year low of $1.38 and a 1-year high of $11.92. The stock has a market capitalization of $42.10 million, a price-to-earnings ratio of -0.78 and a beta of -0.89. The company has a fifty day moving average price of $3.59 and a 200-day moving average price of $5.47.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price target (down previously from $16.00) on shares of Immuneering in a research note on Friday, March 15th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of Immuneering in a research report on Friday, April 12th. TD Cowen reaffirmed a “market perform” rating on shares of Immuneering in a research report on Friday, March 15th. Chardan Capital lowered their price objective on shares of Immuneering from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $25.00 price target on shares of Immuneering in a research note on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Insider Activity

In other news, major shareholder Cormorant Asset Management, Lp sold 400,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $2.90, for a total transaction of $1,160,000.00. Following the completion of the transaction, the insider now directly owns 2,895,273 shares in the company, valued at approximately $8,396,291.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Cormorant Asset Management, Lp sold 400,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $2.90, for a total transaction of $1,160,000.00. Following the sale, the insider now owns 2,895,273 shares of the company’s stock, valued at approximately $8,396,291.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann E. Berman bought 57,965 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was acquired at an average cost of $2.13 per share, with a total value of $123,465.45. Following the completion of the purchase, the director now owns 67,465 shares of the company’s stock, valued at approximately $143,700.45. The disclosure for this purchase can be found here. Insiders have purchased a total of 111,790 shares of company stock valued at $266,645 in the last 90 days. 23.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Immuneering

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc grew its position in shares of Immuneering by 100.0% in the third quarter. TD Asset Management Inc now owns 284,476 shares of the company’s stock valued at $2,185,000 after purchasing an additional 142,238 shares during the last quarter. Adage Capital Partners GP L.L.C. grew 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 buying an additional 20,000 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in Immuneering during the 3rd quarter worth $154,000. Corton Capital Inc. acquired a new stake in shares of Immuneering during the third quarter worth $145,000. Finally, Southport Management L.L.C. bought a new stake in shares of Immuneering in the third quarter valued at about $134,000. 67.65% of the stock is owned by institutional investors.

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.