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

Immuneering Co. (NASDAQ:IMRX) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,070,000 shares, a decrease of 24.6% from the March 15th total of 1,420,000 shares. Based on an average daily trading volume, of 1,650,000 shares, the short-interest ratio is currently 0.6 days. Approximately 4.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Immuneering

Several institutional investors and hedge funds have recently modified their holdings of IMRX. Tang Capital Management LLC purchased a new stake in shares of Immuneering during the 4th quarter valued at about $27,000. Marshall Wace LLP acquired a new stake in Immuneering in the fourth quarter valued at approximately $47,000. First Manhattan CO. LLC. purchased a new stake in shares of Immuneering during the fourth quarter valued at approximately $71,000. XTX Topco Ltd lifted its position in shares of Immuneering by 177.2% during the fourth quarter. XTX Topco Ltd now owns 32,650 shares of the company’s stock worth $72,000 after purchasing an additional 20,871 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake 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. Hedge funds and other institutional investors own 67.65% of the company’s stock.

Immuneering Price Performance

IMRX stock traded up $0.02 during midday trading on Friday, reaching $1.27. 62,031 shares of the company’s stock traded hands, compared to its average volume of 2,359,095. Immuneering has a fifty-two week low of $1.00 and a fifty-two week high of $3.83. The business has a 50-day moving average price of $1.55 and a two-hundred day moving average price of $1.88. The company has a market capitalization of $45.58 million, a P/E ratio of -0.64 and a beta of -0.25.

Immuneering (NASDAQ:IMRX) last posted its earnings results on Thursday, March 20th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.16). As a group, research analysts forecast that Immuneering will post -1.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IMRX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 target price on shares of Immuneering in a research report on Thursday, April 10th. Chardan Capital restated a “buy” rating and set a $13.00 price target on shares of Immuneering in a research note on Monday, March 24th.

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.