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

Immuneering Co. (NASDAQ:IMRX) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,760,000 shares, a decrease of 23.1% from the December 15th total of 2,290,000 shares. Approximately 7.9% of the shares of the company are sold short. Based on an average trading volume of 2,290,000 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IMRX shares. Morgan Stanley cut shares of Immuneering from an “equal weight” rating to an “underweight” rating in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Immuneering in a report on Monday, January 13th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $13.00 target price on shares of Immuneering in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.80.

Institutional Trading of Immuneering

A number of hedge funds have recently added to or reduced their stakes in the stock. Corsair Capital Management L.P. acquired a new position in shares of Immuneering during the third quarter worth $25,000. Vontobel Holding Ltd. bought a new stake in shares of Immuneering during the third quarter worth about $25,000. XTX Topco Ltd boosted its holdings in Immuneering by 37.3% during the second quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock worth $44,000 after purchasing an additional 9,274 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Immuneering during the second quarter worth about $44,000. Finally, Tidemark LLC purchased a new position in Immuneering during the third quarter worth about $129,000. Institutional investors and hedge funds own 67.65% of the company’s stock.

Immuneering Price Performance

NASDAQ:IMRX traded up $0.06 during mid-day trading on Friday, reaching $2.02. The stock had a trading volume of 679,866 shares, compared to its average volume of 4,727,375. Immuneering has a 12 month low of $1.00 and a 12 month high of $7.68. The stock has a market capitalization of $62.72 million, a PE ratio of -1.03 and a beta of -0.34. The stock has a 50-day simple moving average of $2.05 and a two-hundred day simple moving average of $1.80.

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.