Analysts Set Immuneering Co. (NASDAQ:IMRX) Target Price at $12.60

Shares of Immuneering Co. (NASDAQ:IMRX) have received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $12.60.

IMRX has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Immuneering in a research note on Friday, September 13th. Chardan Capital cut their price target on shares of Immuneering from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Institutional Investors Weigh In On Immuneering

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMRX. Point72 Asia Singapore Pte. Ltd. purchased a new position in Immuneering during the second quarter valued at $44,000. XTX Topco Ltd lifted its position in Immuneering by 37.3% during the 2nd quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock valued at $44,000 after acquiring an additional 9,274 shares during the period. Acadian Asset Management LLC bought a new stake in Immuneering during the second quarter worth about $67,000. Renaissance Technologies LLC purchased a new stake in Immuneering in the second quarter worth about $447,000. Finally, Marshall Wace LLP bought a new position in shares of Immuneering during the second quarter valued at approximately $492,000. 67.65% of the stock is owned by hedge funds and other institutional investors.

Immuneering Stock Down 0.8 %

Shares of IMRX opened at $2.45 on Tuesday. The stock has a market capitalization of $72.65 million, a P/E ratio of -1.32 and a beta of -0.45. Immuneering has a twelve month low of $1.00 and a twelve month high of $8.89. The firm has a fifty day simple moving average of $1.63 and a two-hundred day simple moving average of $1.62.

Immuneering (NASDAQ:IMRX) last posted its earnings results on Tuesday, August 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.05. Sell-side analysts expect that Immuneering will post -1.89 EPS for the current fiscal year.

Immuneering Company Profile

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.