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

Immuneering Co. (NASDAQ:IMRX) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,290,000 shares, an increase of 41.4% from the November 30th total of 1,620,000 shares. Approximately 10.2% of the shares of the company are sold short. Based on an average daily trading volume, of 1,160,000 shares, the short-interest ratio is presently 2.0 days.

Immuneering Stock Down 3.4 %

Shares of Immuneering stock traded down $0.08 during midday trading on Monday, hitting $2.25. The company had a trading volume of 323,886 shares, compared to its average volume of 2,080,029. The stock has a market cap of $69.86 million, a price-to-earnings ratio of -1.14 and a beta of -0.33. Immuneering has a 12-month low of $1.00 and a 12-month high of $7.68. The company has a fifty day simple moving average of $2.01 and a 200 day simple moving average of $1.73.

Wall Street Analyst Weigh In

Several analysts have recently commented on IMRX shares. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Immuneering in a research report on Thursday, November 14th. Morgan Stanley downgraded shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research note on Friday, December 13th. Finally, Chardan Capital restated a “buy” rating and set a $13.00 target price on shares of Immuneering in a research report on Wednesday, November 20th. One 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, the company presently has a consensus rating of “Hold” and a consensus target price of $12.80.

Hedge Funds Weigh In On Immuneering

Several hedge funds have recently made changes to their positions in IMRX. Corsair Capital Management L.P. purchased a new stake in Immuneering during the 3rd quarter valued at about $25,000. Vontobel Holding Ltd. acquired a new stake in shares of Immuneering during the third quarter worth about $25,000. XTX Topco Ltd boosted its position 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 buying an additional 9,274 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Immuneering in the 2nd quarter worth approximately $44,000. Finally, Tidemark LLC purchased a new position in Immuneering during the 3rd quarter worth approximately $129,000. 67.65% of the stock is owned by institutional investors and hedge funds.

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.