Immuneering (NASDAQ:IMRX) Stock Rating Reaffirmed by Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $15.00 price objective on the stock.

A number of other research firms also recently weighed in on IMRX. TD Cowen reaffirmed a “market perform” rating on shares of Immuneering in a research note on Friday, March 15th. Oppenheimer reissued an “outperform” rating and issued a $25.00 price objective on shares of Immuneering in a research report on Tuesday, March 5th. Chardan Capital dropped their price objective on shares of Immuneering from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Guggenheim reissued a “neutral” rating on shares of Immuneering in a research report on Thursday, March 14th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price objective (down previously from $16.00) on shares of Immuneering in a research report on Friday, March 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Immuneering Stock Up 1.0 %

NASDAQ:IMRX opened at $2.10 on Friday. The company has a market cap of $61.49 million, a P/E ratio of -1.11 and a beta of -0.89. Immuneering has a fifty-two week low of $1.90 and a fifty-two week high of $14.29. The firm’s 50 day moving average is $4.60 and its two-hundred day moving average is $5.91.

Immuneering (NASDAQ:IMRX) last posted its quarterly earnings results on Friday, March 1st. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.06). Research analysts forecast that Immuneering will post -1.89 earnings per share for the current fiscal year.

Insider Activity at Immuneering

In other news, Director Peter Feinberg purchased 25,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of $2.55 per share, with a total value of $63,750.00. Following the acquisition, the director now owns 111,766 shares in the company, valued at $285,003.30. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Peter Feinberg purchased 25,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of $2.55 per share, with a total value of $63,750.00. Following the acquisition, the director now owns 111,766 shares in the company, valued at $285,003.30. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $3.72, for a total transaction of $1,893,818.52. Following the sale, the insider now directly owns 3,695,273 shares of the company’s stock, valued at $13,746,415.56. The disclosure for this sale can be found here. In the last three months, insiders bought 111,790 shares of company stock valued at $266,645. Corporate insiders own 23.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IMRX. BlackRock Inc. boosted its stake in Immuneering by 80.8% during the 2nd quarter. BlackRock Inc. now owns 2,423,658 shares of the company’s stock valued at $24,576,000 after acquiring an additional 1,083,465 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Immuneering by 16.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,142,829 shares of the company’s stock valued at $22,413,000 after acquiring an additional 577,356 shares during the last quarter. Vanguard Group Inc. boosted its stake in Immuneering by 158.8% during the 1st quarter. Vanguard Group Inc. now owns 812,392 shares of the company’s stock valued at $5,256,000 after acquiring an additional 498,479 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Immuneering by 1,765.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 488,863 shares of the company’s stock valued at $4,957,000 after acquiring an additional 462,652 shares during the last quarter. Finally, State Street Corp boosted its stake in Immuneering by 520.9% during the 2nd quarter. State Street Corp now owns 333,622 shares of the company’s stock valued at $3,383,000 after acquiring an additional 279,887 shares during the last quarter. 67.65% of the stock is currently owned by 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.