Short Interest in Immuneering Co. (NASDAQ:IMRX) Rises By 6.3%

Immuneering Co. (NASDAQ:IMRX) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,690,000 shares, a growth of 6.3% from the May 31st total of 3,470,000 shares. Approximately 17.6% of the shares of the company are short sold. Based on an average daily trading volume, of 376,900 shares, the short-interest ratio is presently 9.8 days.

Institutional Investors Weigh In On Immuneering

Several institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its position in Immuneering by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 17,416 shares of the company’s stock worth $128,000 after purchasing an additional 4,417 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of Immuneering in the third quarter worth approximately $154,000. Adage Capital Partners GP L.L.C. raised its position in shares of Immuneering by 11.4% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 195,000 shares of the company’s stock valued at $1,498,000 after purchasing an additional 20,000 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Immuneering by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock worth $3,479,000 after purchasing an additional 129,851 shares in the last quarter. Institutional investors own 67.65% of the company’s stock.

Immuneering Price Performance

IMRX opened at $1.13 on Thursday. The business has a 50 day simple moving average of $1.46 and a two-hundred day simple moving average of $3.84. Immuneering has a one year low of $1.05 and a one year high of $11.06. The firm has a market capitalization of $33.51 million, a price-to-earnings ratio of -0.60 and a beta of -0.61.

Immuneering (NASDAQ:IMRX) last announced its earnings results on Tuesday, May 7th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). As a group, sell-side analysts expect that Immuneering will post -1.93 EPS for the current fiscal year.

Analyst Ratings Changes

IMRX has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Immuneering in a research note on Wednesday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.00 price objective (down from $16.00) on shares of Immuneering in a report on Friday, March 15th. Chardan Capital dropped their price target on Immuneering from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Mizuho reduced their price objective on Immuneering from $20.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, Guggenheim reissued a “neutral” rating on shares of Immuneering in a research note on Thursday, March 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.50.

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.