Immuneering (NASDAQ:IMRX) Receives Buy Rating from Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $15.00 price target on the stock.

Separately, Chardan Capital reduced their price target on Immuneering from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Immuneering presently has a consensus rating of “Moderate Buy” and an average target price of $12.60.

Immuneering Stock Down 6.6 %

Shares of IMRX stock opened at $1.71 on Thursday. Immuneering has a twelve month low of $1.00 and a twelve month high of $8.89. The stock’s fifty day simple moving average is $2.14 and its 200 day simple moving average is $1.60. The firm has a market capitalization of $50.70 million, a P/E ratio of -0.90 and a beta of -0.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new stake in shares of Immuneering in the second quarter valued at about $492,000. Renaissance Technologies LLC acquired a new stake in Immuneering during the 2nd quarter valued at approximately $447,000. Vanguard Group Inc. raised its holdings in Immuneering by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock worth $3,479,000 after purchasing an additional 129,851 shares during the last quarter. Acadian Asset Management LLC bought a new position in Immuneering during the 2nd quarter worth approximately $67,000. Finally, Tidemark LLC acquired a new position in shares of Immuneering in the 3rd quarter worth approximately $129,000. 67.65% of the stock is owned by institutional investors and hedge funds.

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.