Short Interest in Immuneering Co. (NASDAQ:IMRX) Declines By 19.4%

Immuneering Co. (NASDAQ:IMRX) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 1,740,000 shares, a drop of 19.4% from the January 31st total of 2,160,000 shares. Based on an average trading volume of 1,880,000 shares, the short-interest ratio is presently 0.9 days. Currently, 7.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP boosted its position in Immuneering by 25.0% during the 4th quarter. Two Sigma Investments LP now owns 50,557 shares of the company’s stock valued at $111,000 after acquiring an additional 10,126 shares in the last quarter. Tang Capital Management LLC purchased a new stake in shares of Immuneering during the 4th quarter worth $27,000. Southport Management L.L.C. boosted its position in Immuneering by 4.9% during the fourth quarter. Southport Management L.L.C. now owns 215,000 shares of the company’s stock valued at $473,000 after purchasing an additional 10,000 shares in the last quarter. First Manhattan CO. LLC. purchased a new position in Immuneering in the fourth quarter valued at about $71,000. Finally, Bridgeway Capital Management LLC raised its holdings in Immuneering by 77.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 51,349 shares of the company’s stock worth $113,000 after purchasing an additional 22,400 shares in the last quarter. 67.65% of the stock is currently owned by institutional investors.

Immuneering Stock Performance

Immuneering stock traded up $0.01 during midday trading on Tuesday, hitting $1.49. 222,637 shares of the company’s stock were exchanged, compared to its average volume of 2,522,579. Immuneering has a 12 month low of $1.00 and a 12 month high of $6.78. The firm has a 50-day moving average of $1.97 and a two-hundred day moving average of $1.95. The company has a market cap of $46.11 million, a PE ratio of -0.75 and a beta of -0.36.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IMRX. Morgan Stanley downgraded Immuneering from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 13th. Chardan Capital restated a “buy” rating and issued a $13.00 target price on shares of Immuneering in a research note on Wednesday, January 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of Immuneering in a research note on Thursday, February 6th. One investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.20.

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.