Chardan Capital Reaffirms Buy Rating for Immuneering (NASDAQ:IMRX)

Chardan Capital reaffirmed their buy rating on shares of Immuneering (NASDAQ:IMRX) in a report released on Wednesday,Benzinga reports. They currently have a $13.00 price objective on the stock.

IMRX has been the topic of several other reports. Oppenheimer dropped their price target on shares of Immuneering from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Immuneering in a research report on Wednesday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.25.

Immuneering Stock Up 52.2%

Shares of IMRX stock opened at $2.77 on Wednesday. The company’s fifty day simple moving average is $1.56 and its 200-day simple moving average is $1.75. The firm has a market cap of $99.69 million, a PE ratio of -1.41 and a beta of 0.01. Immuneering has a 12 month low of $1.00 and a 12 month high of $3.83.

Immuneering (NASDAQ:IMRX) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.01). On average, equities analysts predict that Immuneering will post -1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas J. Schall acquired 40,485 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were bought at an average cost of $2.21 per share, with a total value of $89,471.85. Following the completion of the transaction, the director now directly owns 43,385 shares of the company’s stock, valued at $95,880.85. This trade represents a 1,396.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On Immuneering

Several large investors have recently modified their holdings of the stock. 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. Rockefeller Capital Management L.P. bought a new position in shares of Immuneering in the fourth quarter valued at about $390,000. HighTower Advisors LLC raised its position in shares of Immuneering by 17.7% in the first quarter. HighTower Advisors LLC now owns 83,960 shares of the company’s stock valued at $128,000 after purchasing an additional 12,600 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Immuneering by 77.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 51,349 shares of the company’s stock valued at $113,000 after purchasing an additional 22,400 shares during the period. Finally, 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. 67.65% of the stock is 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.