Immuneering Co. (NASDAQ:IMRX) Short Interest Down 23.1% in January

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on IMRX shares. Morgan Stanley lowered Immuneering from an “equal weight” rating to an “underweight” rating in a report on Friday, December 13th. Chardan Capital restated a “buy” rating and set a $13.00 target price on shares of Immuneering in a research report on Wednesday, January 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Immuneering in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Immuneering has an average rating of “Hold” and a consensus target price of $12.80.

Institutional Trading of Immuneering

Several large investors have recently added to or reduced their stakes in IMRX. Corsair Capital Management L.P. purchased a new stake in Immuneering during the 3rd quarter worth $25,000. Vontobel Holding Ltd. bought a new position in shares of Immuneering during the 3rd quarter valued at about $25,000. XTX Topco Ltd boosted its stake in shares of Immuneering by 37.3% during the 2nd quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock worth $44,000 after acquiring an additional 9,274 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Immuneering in the 2nd quarter valued at $44,000. Finally, Tidemark LLC acquired a new stake in Immuneering during the 3rd quarter worth about $129,000. 67.65% of the stock is currently owned by institutional investors and hedge funds.

Immuneering Stock Performance

IMRX opened at $1.94 on Friday. Immuneering has a 12 month low of $1.00 and a 12 month high of $7.68. The business has a 50-day moving average of $2.07 and a two-hundred day moving average of $1.85.

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.