Immuneering Co. (NASDAQ:IMRX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Immuneering Co. (NASDAQ:IMRX) have earned an average rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $12.20.

IMRX has been the subject of a number of analyst reports. Morgan Stanley downgraded shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 13th. Chardan Capital reaffirmed a “buy” rating and issued a $13.00 price target on shares of Immuneering in a report on Wednesday, January 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective on shares of Immuneering in a report on Thursday.

Immuneering Price Performance

NASDAQ:IMRX opened at $1.90 on Monday. The company has a 50 day moving average price of $2.05 and a 200-day moving average price of $1.89. Immuneering has a 1-year low of $1.00 and a 1-year high of $7.68. The firm has a market cap of $59.00 million, a price-to-earnings ratio of -0.96 and a beta of -0.36.

Hedge Funds Weigh In On Immuneering

A number of hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC increased its position in shares of Immuneering by 33.7% during the fourth quarter. HighTower Advisors LLC now owns 71,360 shares of the company’s stock worth $157,000 after purchasing an additional 18,000 shares in the last quarter. Corsair Capital Management L.P. acquired a new stake in Immuneering during the 3rd quarter worth $25,000. Tidemark LLC purchased a new stake in shares of Immuneering during the third quarter worth $129,000. Vontobel Holding Ltd. acquired a new stake in shares of Immuneering in the third quarter valued at about $25,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Immuneering in the second quarter worth about $44,000. Institutional investors and hedge funds own 67.65% of the company’s stock.

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.