Immuneering Co. (NASDAQ:IMRX – Get Free Report) saw a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 1,980,000 shares, a decrease of 26.4% from the July 31st total of 2,690,000 shares. Approximately 9.4% of the shares of the stock are sold short. Based on an average trading volume of 1,520,000 shares, the short-interest ratio is presently 1.3 days.
Wall Street Analyst Weigh In
IMRX has been the subject of a number of recent research reports. Chardan Capital cut their price objective on Immuneering from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of Immuneering in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.60.
Read Our Latest Analysis on Immuneering
Immuneering Stock Up 2.7 %
Immuneering (NASDAQ:IMRX – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.05. Equities research analysts anticipate that Immuneering will post -1.93 earnings per share for the current year.
Institutional Trading of Immuneering
Large investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Immuneering in the second quarter worth $44,000. Marshall Wace LLP acquired a new position in shares of Immuneering in the second quarter worth $492,000. XTX Topco Ltd increased its stake in shares of Immuneering by 37.3% in the second quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock worth $44,000 after acquiring an additional 9,274 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Immuneering in the second quarter worth $447,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Immuneering in the second quarter worth $67,000. 67.65% of the stock is owned by institutional investors and hedge funds.
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.
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