Short Interest in Immuneering Co. (NASDAQ:IMRX) Decreases By 23.1%

Immuneering Co. (NASDAQ:IMRX) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 1,760,000 shares, a drop of 23.1% from the December 15th total of 2,290,000 shares. Approximately 7.9% of the company’s stock are sold short. Based on an average daily trading volume, of 2,290,000 shares, the short-interest ratio is currently 0.8 days.

Wall Street Analyst Weigh In

IMRX has been the subject of several analyst reports. Morgan Stanley cut Immuneering from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 13th. Chardan Capital restated a “buy” rating and set a $13.00 target price on shares of Immuneering in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Immuneering in a research note on Monday. 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 stock. According to data from MarketBeat, Immuneering currently has an average rating of “Hold” and a consensus price target of $12.80.

Institutional Investors Weigh In On Immuneering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Corsair Capital Management L.P. acquired a new position in shares of Immuneering in the 3rd quarter valued at $25,000. Vontobel Holding Ltd. purchased a new position in Immuneering during the 3rd quarter worth $25,000. XTX Topco Ltd increased its stake in Immuneering by 37.3% in the second 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 during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Immuneering in the second quarter valued at about $44,000. Finally, Tidemark LLC purchased a new stake in shares of Immuneering in the third quarter valued at about $129,000. Hedge funds and other institutional investors own 67.65% of the company’s stock.

Immuneering Price Performance

Immuneering stock opened at $1.90 on Thursday. Immuneering has a fifty-two week low of $1.00 and a fifty-two week high of $7.68. The stock has a 50-day simple moving average of $2.05 and a 200-day simple moving average of $1.79.

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.