Immuneering Co. (NASDAQ:IMRX) Sees Large Decrease in Short Interest

Immuneering Co. (NASDAQ:IMRX) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 1,760,000 shares, a drop of 23.1% from the December 31st total of 2,290,000 shares. Based on an average trading volume of 2,290,000 shares, the short-interest ratio is currently 0.8 days. Currently, 7.9% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research analysts recently weighed in on IMRX shares. Morgan Stanley lowered shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research note on Friday, December 13th. Chardan Capital reissued a “buy” rating and issued a $13.00 price target on shares of Immuneering in a report on Wednesday, January 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Immuneering in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.80.

Immuneering Price Performance

Immuneering stock opened at $1.94 on Friday. The company has a 50 day moving average of $2.07 and a 200-day moving average of $1.85. Immuneering has a twelve month low of $1.00 and a twelve month high of $7.68. The stock has a market capitalization of $60.24 million, a PE ratio of -0.98 and a beta of -0.34.

Hedge Funds Weigh In On Immuneering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMRX. Corsair Capital Management L.P. acquired a new stake in shares of Immuneering in the 3rd quarter valued at about $25,000. Vontobel Holding Ltd. bought a new position in shares of Immuneering during the third quarter worth about $25,000. XTX Topco Ltd raised its position in Immuneering by 37.3% in the 2nd quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock valued at $44,000 after buying an additional 9,274 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Immuneering in the 2nd quarter valued at approximately $44,000. Finally, Tidemark LLC bought a new stake in Immuneering in the 3rd quarter valued at approximately $129,000. 67.65% of the stock is owned by institutional investors and hedge funds.

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.