Immuneering Co. (NASDAQ:IMRX) Short Interest Update

Immuneering Co. (NASDAQ:IMRX) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 3,690,000 shares, a growth of 6.3% from the May 31st total of 3,470,000 shares. Based on an average trading volume of 376,900 shares, the days-to-cover ratio is presently 9.8 days. Currently, 17.6% of the company’s stock are sold short.

Institutional Investors Weigh In On Immuneering

Several hedge funds and other institutional investors have recently made changes to their positions in IMRX. Exchange Traded Concepts LLC boosted its stake in Immuneering by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,416 shares of the company’s stock valued at $128,000 after purchasing an additional 4,417 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of Immuneering by 11.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 195,000 shares of the company’s stock worth $1,498,000 after acquiring an additional 20,000 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Immuneering in the third quarter worth $154,000. Finally, Vanguard Group Inc. increased its position in Immuneering by 12.1% during the first quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock worth $3,479,000 after acquiring an additional 129,851 shares during the period. 67.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Mizuho decreased their price target on shares of Immuneering from $20.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. TD Cowen reiterated a “market perform” rating on shares of Immuneering in a report on Friday, March 15th. Chardan Capital lowered their target price on Immuneering from $21.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price target on shares of Immuneering in a research note on Tuesday, March 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Immuneering in a research note on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.50.

Immuneering Stock Down 6.8 %

Shares of Immuneering stock opened at $1.09 on Wednesday. Immuneering has a 12-month low of $1.05 and a 12-month high of $11.06. The stock has a 50 day moving average price of $1.47 and a two-hundred day moving average price of $3.85.

Immuneering (NASDAQ:IMRX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.04). On average, analysts predict that Immuneering will post -1.93 EPS for the current fiscal year.

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.