Renaissance Technologies LLC Buys New Shares in Immuneering Co. (NASDAQ:IMRX)

Renaissance Technologies LLC purchased a new stake in Immuneering Co. (NASDAQ:IMRX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 349,100 shares of the company’s stock, valued at approximately $447,000.

Separately, Acadian Asset Management LLC bought a new position in shares of Immuneering in the second quarter valued at $67,000. Hedge funds and other institutional investors own 67.65% of the company’s stock.

Immuneering Stock Performance

Shares of IMRX stock opened at $2.22 on Friday. Immuneering Co. has a 52 week low of $1.00 and a 52 week high of $8.89. The company has a market capitalization of $65.83 million, a price-to-earnings ratio of -1.19 and a beta of -0.45. The company has a 50-day simple moving average of $1.71 and a 200 day simple moving average of $1.62.

Immuneering (NASDAQ:IMRX) last released its quarterly 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. Sell-side analysts forecast that Immuneering Co. will post -1.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IMRX shares. Chardan Capital dropped their price target on shares of Immuneering from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Immuneering in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.60.

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.