Immuneering Co. (NASDAQ:IMRX) Short Interest Up 10.3% in March

Immuneering Co. (NASDAQ:IMRX) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 2,880,000 shares, a growth of 10.3% from the March 15th total of 2,610,000 shares. Approximately 14.0% of the company’s shares are sold short. Based on an average daily trading volume, of 595,100 shares, the days-to-cover ratio is currently 4.8 days.

Immuneering Stock Down 8.8 %

IMRX opened at $1.92 on Tuesday. The firm’s 50-day moving average price is $4.53 and its 200-day moving average price is $5.86. The company has a market cap of $56.07 million, a P/E ratio of -1.01 and a beta of -0.89. Immuneering has a 52-week low of $1.89 and a 52-week high of $14.29.

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

Analysts Set New Price Targets

A number of brokerages recently commented on IMRX. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Immuneering in a research note on Friday. Mizuho dropped their price objective on Immuneering from $20.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Chardan Capital reduced their target price on shares of Immuneering from $21.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 15th. TD Cowen restated a “market perform” rating on shares of Immuneering in a report on Friday, March 15th. Finally, Oppenheimer reiterated an “outperform” rating and set a $25.00 price objective on shares of Immuneering in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Immuneering has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Insider Activity at Immuneering

In related news, CEO Benjamin J. Zeskind bought 20,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were acquired at an average cost of $2.77 per share, for a total transaction of $55,400.00. Following the purchase, the chief executive officer now directly owns 2,281,852 shares of the company’s stock, valued at $6,320,730.04. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Cormorant Asset Management, Lp sold 509,091 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $3.72, for a total value of $1,893,818.52. Following the completion of the sale, the insider now directly owns 3,695,273 shares of the company’s stock, valued at $13,746,415.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Benjamin J. Zeskind bought 20,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were acquired at an average cost of $2.77 per share, for a total transaction of $55,400.00. Following the transaction, the chief executive officer now directly owns 2,281,852 shares in the company, valued at approximately $6,320,730.04. The disclosure for this purchase can be found here. Insiders purchased 111,790 shares of company stock worth $266,645 in the last 90 days. 23.00% of the stock is owned by corporate insiders.

Institutional Trading of Immuneering

Several large investors have recently added to or reduced their stakes in IMRX. UBS Group AG purchased a new position in shares of Immuneering in the first quarter worth about $26,000. Tower Research Capital LLC TRC raised its position in Immuneering by 296.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,248 shares of the company’s stock worth $25,000 after buying an additional 2,428 shares during the last quarter. Citigroup Inc. lifted its stake in Immuneering by 2,078.7% during the 2nd quarter. Citigroup Inc. now owns 6,536 shares of the company’s stock valued at $66,000 after acquiring an additional 6,236 shares during the period. California State Teachers Retirement System purchased a new stake in shares of Immuneering in the 2nd quarter valued at $68,000. Finally, Barclays PLC increased its stake in shares of Immuneering by 56.1% in the second quarter. Barclays PLC now owns 8,144 shares of the company’s stock worth $82,000 after acquiring an additional 2,927 shares during the period. Hedge funds and other institutional investors own 67.65% of the company’s stock.

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.