Immuneering Co. (NASDAQ:IMRX) Sees Large Drop in Short Interest

Immuneering Co. (NASDAQ:IMRX) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 2,690,000 shares, a decrease of 6.6% from the July 15th total of 2,880,000 shares. Based on an average trading volume of 1,470,000 shares, the short-interest ratio is presently 1.8 days. Currently, 12.8% of the company’s stock are sold short.

Institutional Trading of Immuneering

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Immuneering by 12.1% in the first quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock valued at $3,479,000 after acquiring an additional 129,851 shares during the last quarter. Marshall Wace LLP acquired a new stake in Immuneering in the second quarter valued at $492,000. Renaissance Technologies LLC acquired a new stake in Immuneering in the second quarter valued at $447,000. Acadian Asset Management LLC acquired a new stake in Immuneering in the second quarter valued at $67,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Immuneering in the second quarter valued at $44,000. Institutional investors and hedge funds own 67.65% of the company’s stock.

Immuneering Trading Down 0.9 %

Shares of IMRX opened at $1.07 on Wednesday. Immuneering has a 12 month low of $1.00 and a 12 month high of $10.25. The firm has a fifty day simple moving average of $1.25 and a 200 day simple moving average of $2.52. The stock has a market capitalization of $31.73 million, a price-to-earnings ratio of -0.57 and a beta of -0.61.

Immuneering (NASDAQ:IMRX) last announced its earnings results on Tuesday, August 6th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.05. As a group, research analysts predict that Immuneering will post -1.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IMRX. Chardan Capital lowered their price objective on shares of Immuneering from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of Immuneering in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Immuneering currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.60.

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.