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

Immuneering Co. (NASDAQ:IMRX) was the target of a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 1,980,000 shares, a decline of 26.4% from the July 31st total of 2,690,000 shares. Currently, 9.4% of the shares of the company are short sold. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is currently 1.3 days.

Institutional Trading of Immuneering

Several institutional investors and hedge funds have recently modified their holdings of IMRX. XTX Topco Ltd raised its holdings in shares of Immuneering by 37.3% in the second quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock valued at $44,000 after acquiring an additional 9,274 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Immuneering during the second quarter valued at approximately $44,000. Acadian Asset Management LLC purchased a new position in Immuneering in the second quarter worth $67,000. Renaissance Technologies LLC acquired a new stake in shares of Immuneering in the 2nd quarter worth $447,000. Finally, Marshall Wace LLP purchased a new position in shares of Immuneering during the second quarter worth $492,000. Institutional investors own 67.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of Immuneering in a report on Wednesday, August 7th. Chardan Capital dropped their price objective on shares of Immuneering from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.60.

Immuneering Stock Performance

NASDAQ:IMRX traded down $0.05 during trading hours on Friday, reaching $1.11. The stock had a trading volume of 264,507 shares, compared to its average volume of 708,084. The company has a 50 day moving average price of $1.18 and a two-hundred day moving average price of $2.26. Immuneering has a 52 week low of $1.00 and a 52 week high of $9.36. The stock has a market capitalization of $32.91 million, a PE ratio of -0.59 and a beta of -0.61.

Immuneering (NASDAQ:IMRX) last announced its earnings results on Tuesday, August 6th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. Equities research analysts predict that Immuneering will post -1.9 EPS for the current year.

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.