Immuneering (NASDAQ:IMRX) Receives “Buy” Rating from Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $15.00 price target on the stock.

Separately, Chardan Capital cut their price objective on shares of Immuneering from $16.00 to $12.00 and set a “buy” rating on the stock 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 stock. According to MarketBeat, Immuneering has an average rating of “Moderate Buy” and an average target price of $12.60.

Immuneering Price Performance

NASDAQ:IMRX opened at $1.80 on Thursday. The firm’s 50-day moving average price is $2.16 and its 200-day moving average price is $1.61. The company has a market capitalization of $53.38 million, a PE ratio of -0.91 and a beta of -0.40. Immuneering has a 1-year low of $1.00 and a 1-year high of $8.89.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Immuneering by 12.1% during the first quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock valued at $3,479,000 after buying an additional 129,851 shares during the last quarter. Marshall Wace LLP bought a new position in Immuneering during the 2nd quarter valued at about $492,000. Renaissance Technologies LLC purchased a new stake in shares of Immuneering during the 2nd quarter valued at about $447,000. Acadian Asset Management LLC bought a new stake in shares of Immuneering in the second quarter worth approximately $67,000. Finally, HighTower Advisors LLC raised its holdings in shares of Immuneering by 21.4% during the third quarter. HighTower Advisors LLC now owns 53,360 shares of the company’s stock valued at $132,000 after purchasing an additional 9,400 shares during the last quarter. 67.65% of the stock is owned by hedge funds and other institutional investors.

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.