Immuneering Co. (NASDAQ:IMRX) Given Average Recommendation of “Moderate Buy” by Analysts

Immuneering Co. (NASDAQ:IMRX) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $12.60.

Several equities analysts have commented on IMRX shares. Chardan Capital dropped their target price on shares of Immuneering from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Immuneering in a report on Thursday, November 14th.

Immuneering Price Performance

IMRX opened at $2.04 on Wednesday. Immuneering has a fifty-two week low of $1.00 and a fifty-two week high of $8.89. The company’s 50-day moving average is $2.19 and its 200 day moving average is $1.62. The firm has a market capitalization of $63.34 million, a P/E ratio of -1.04 and a beta of -0.40.

Institutional Investors Weigh In On Immuneering

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Immuneering by 12.1% in the first quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock worth $3,479,000 after buying an additional 129,851 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Immuneering during the 2nd quarter worth $67,000. Renaissance Technologies LLC purchased a new stake in Immuneering in the 2nd quarter worth about $447,000. XTX Topco Ltd raised its stake in Immuneering by 37.3% in the 2nd quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock valued at $44,000 after acquiring an additional 9,274 shares during the period. Finally, Marshall Wace LLP bought a new stake in Immuneering in the 2nd quarter valued at about $492,000. 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.