Immuneering (NASDAQ:IMRX) Earns Buy Rating from Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $15.00 price objective on the stock.

Separately, Chardan Capital lowered their target price on Immuneering from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.60.

Immuneering Stock Down 7.2 %

Immuneering stock opened at $1.80 on Thursday. The firm has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $1.61. Immuneering has a twelve month low of $1.00 and a twelve month high of $8.89. The company has a market capitalization of $53.38 million, a PE ratio of -0.91 and a beta of -0.40.

Hedge Funds Weigh In On Immuneering

A number of hedge funds and other institutional investors have recently made changes to their positions in IMRX. Vontobel Holding Ltd. bought a new stake in Immuneering in the third quarter valued at $25,000. Corsair Capital Management L.P. bought a new stake in shares of Immuneering during the 3rd quarter valued at about $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Immuneering during the second quarter valued at about $44,000. XTX Topco Ltd raised its stake in Immuneering by 37.3% in the second 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. Finally, Acadian Asset Management LLC purchased a new stake in Immuneering in the second quarter worth about $67,000. Institutional investors own 67.65% of the company’s stock.

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.