Immuneering Co. (NASDAQ:IMRX – Get Free Report) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 3,020,000 shares, an increase of 98.7% from the August 31st total of 1,520,000 shares. Currently, 14.4% of the company’s stock are sold short. Based on an average daily volume of 6,040,000 shares, the short-interest ratio is currently 0.5 days.
Wall Street Analysts Forecast Growth
IMRX has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Immuneering in a research report on Friday, September 13th. Chardan Capital reduced their price target on Immuneering from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three investment 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, Immuneering presently has an average rating of “Moderate Buy” and an average price target of $12.60.
View Our Latest Analysis on IMRX
Immuneering Stock Up 1.9 %
Immuneering (NASDAQ:IMRX – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.05. As a group, research analysts predict that Immuneering will post -1.89 EPS for the current fiscal year.
Institutional Investors Weigh In On Immuneering
A number of large investors have recently made changes to their positions in IMRX. Vanguard Group Inc. raised its position in shares of Immuneering by 12.1% in 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. Marshall Wace LLP acquired a new position in shares of Immuneering during the 2nd quarter worth about $492,000. Renaissance Technologies LLC acquired a new position in shares of Immuneering during the 2nd quarter worth about $447,000. Acadian Asset Management LLC acquired a new position in shares of Immuneering during the 2nd quarter worth about $67,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Immuneering during the 2nd quarter worth about $44,000. 67.65% of the stock is owned by hedge funds and other 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.
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