Immuneering’s (IMRX) Buy Rating Reaffirmed at Chardan Capital

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Chardan Capital in a note issued to investors on Wednesday,Benzinga reports. They currently have a $13.00 price target on the stock. Chardan Capital’s target price would suggest a potential upside of 450.85% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Immuneering in a report on Tuesday. Morgan Stanley downgraded Immuneering from an “equal weight” rating to an “underweight” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.80.

Immuneering Price Performance

Shares of Immuneering stock opened at $2.36 on Wednesday. The firm has a market capitalization of $73.28 million, a P/E ratio of -1.20 and a beta of -0.34. Immuneering has a 52 week low of $1.00 and a 52 week high of $7.68. The company has a 50 day moving average price of $2.04 and a 200 day moving average price of $1.77.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd increased 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 valued at $44,000 after purchasing an additional 9,274 shares in the last quarter. HighTower Advisors LLC grew its position in Immuneering by 21.4% during the third quarter. HighTower Advisors LLC now owns 53,360 shares of the company’s stock valued at $132,000 after buying an additional 9,400 shares during the period. Corsair Capital Management L.P. purchased a new position in Immuneering in the third quarter valued at $25,000. Vontobel Holding Ltd. acquired a new position in shares of Immuneering in the third quarter worth about $25,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Immuneering during the 2nd quarter worth about $44,000. 67.65% of the stock is currently 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.