Immuneering Co. (NASDAQ:IMRX – Get Free Report) 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.
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.
Get Our Latest Analysis on Immuneering
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.
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