Immuneering (NASDAQ:IMRX) Rating Lowered to “Underweight” at Morgan Stanley

Immuneering (NASDAQ:IMRX) was downgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Friday, Marketbeat reports.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Immuneering in a research note on Thursday, November 14th. Chardan Capital reiterated a “buy” rating and issued a $13.00 price target on shares of Immuneering in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Immuneering presently has a consensus rating of “Hold” and an average target price of $12.80.

Immuneering Price Performance

NASDAQ:IMRX opened at $1.64 on Friday. Immuneering has a one year low of $1.00 and a one year high of $8.41. The company has a market cap of $50.77 million, a PE ratio of -0.83 and a beta of -0.33. The firm’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $1.69.

Institutional Inflows and Outflows

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

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.