Immuneering (NASDAQ:IMRX) Given Buy Rating at Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $12.00 price target on the stock.

IMRX has been the topic of several other research reports. Chardan Capital reaffirmed a “buy” rating and set a $13.00 price objective on shares of Immuneering in a research report on Wednesday, January 8th. Morgan Stanley lowered shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 13th.

Immuneering Price Performance

NASDAQ IMRX opened at $1.65 on Friday. The company has a 50 day simple moving average of $1.80 and a 200-day simple moving average of $1.98. The firm has a market capitalization of $51.23 million, a price-to-earnings ratio of -0.84 and a beta of -0.32. Immuneering has a 52-week low of $1.00 and a 52-week high of $3.83.

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

Hedge Funds Weigh In On Immuneering

A number of institutional investors have recently modified their holdings of the company. HighTower Advisors LLC raised its position in shares of Immuneering by 21.4% in 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 period. Corsair Capital Management L.P. bought a new position in shares of Immuneering in the third quarter valued at approximately $25,000. Southport Management L.L.C. raised its position in shares of Immuneering by 4.9% in the fourth quarter. Southport Management L.L.C. now owns 215,000 shares of the company’s stock valued at $473,000 after purchasing an additional 10,000 shares during the period. Two Sigma Investments LP raised 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. Finally, Tang Capital Management LLC bought a new position in shares of Immuneering in the fourth quarter valued at approximately $27,000. Institutional investors own 67.65% of the company’s stock.

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.