Immuneering (NASDAQ:IMRX) Earns “Buy” Rating from Needham & Company LLC

Immuneering (NASDAQ:IMRX)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $12.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 489.68% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Chardan Capital reiterated a “buy” rating and issued a $13.00 target price on shares of Immuneering in a research note on Wednesday, January 8th. Morgan Stanley cut shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.20.

Immuneering Stock Performance

NASDAQ IMRX traded up $0.13 on Thursday, hitting $2.04. The stock had a trading volume of 659,230 shares, compared to its average volume of 4,123,205. Immuneering has a 52-week low of $1.00 and a 52-week high of $7.68. The company has a market capitalization of $63.19 million, a price-to-earnings ratio of -1.03 and a beta of -0.36. The firm has a 50-day moving average of $2.06 and a 200-day moving average of $1.87.

Hedge Funds Weigh In On Immuneering

Several institutional investors and hedge funds have recently made changes to their positions in IMRX. Marshall Wace LLP bought a new stake in Immuneering in the 2nd quarter worth $492,000. Renaissance Technologies LLC purchased a new position in shares of Immuneering in the second quarter valued at about $447,000. HighTower Advisors LLC increased its position in shares of Immuneering by 21.4% in the third quarter. HighTower Advisors LLC now owns 53,360 shares of the company’s stock valued at $132,000 after acquiring an additional 9,400 shares during the period. Tidemark LLC purchased a new position in shares of Immuneering in the third quarter valued at about $129,000. Finally, Corsair Capital Management L.P. purchased a new position in shares of Immuneering in the third quarter valued at about $25,000. Institutional investors 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.