Immuneering Co. (NASDAQ:IMRX) Short Interest Down 24.6% in March

Immuneering Co. (NASDAQ:IMRX) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,070,000 shares, a decrease of 24.6% from the March 15th total of 1,420,000 shares. Based on an average trading volume of 1,650,000 shares, the short-interest ratio is presently 0.6 days. Approximately 4.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tang Capital Management LLC acquired a new position in shares of Immuneering in the fourth quarter valued at approximately $27,000. Marshall Wace LLP acquired a new position in Immuneering in the 4th quarter valued at $47,000. First Manhattan CO. LLC. purchased a new position in shares of Immuneering during the 4th quarter worth $71,000. XTX Topco Ltd boosted its holdings in shares of Immuneering by 177.2% during the fourth quarter. XTX Topco Ltd now owns 32,650 shares of the company’s stock worth $72,000 after purchasing an additional 20,871 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Immuneering by 25.0% in the fourth quarter. Two Sigma Investments LP now owns 50,557 shares of the company’s stock valued at $111,000 after purchasing an additional 10,126 shares during the period. 67.65% of the stock is currently owned by hedge funds and other institutional investors.

Immuneering Stock Up 1.6 %

Shares of Immuneering stock traded up $0.02 during trading on Friday, hitting $1.27. 62,031 shares of the company were exchanged, compared to its average volume of 2,359,095. Immuneering has a fifty-two week low of $1.00 and a fifty-two week high of $3.83. The firm has a 50 day moving average price of $1.55 and a 200 day moving average price of $1.88. The stock has a market capitalization of $45.58 million, a price-to-earnings ratio of -0.64 and a beta of -0.25.

Immuneering (NASDAQ:IMRX) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.16). Analysts predict that Immuneering will post -1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IMRX shares. Chardan Capital reiterated a “buy” rating and set a $13.00 target price on shares of Immuneering in a research report on Monday, March 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of Immuneering in a research note on Thursday, April 10th.

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.