Immuneering Co. (NASDAQ:IMRX) Sees Large Drop in Short Interest

Immuneering Co. (NASDAQ:IMRX) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 1,520,000 shares, a drop of 6.7% from the September 30th total of 1,630,000 shares. Approximately 7.2% of the company’s stock are sold short. Based on an average daily trading volume, of 6,690,000 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

IMRX has been the subject of a number of recent analyst reports. Chardan Capital decreased their price target on Immuneering from $16.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target 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 issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.60.

Immuneering Stock Performance

IMRX opened at $1.86 on Friday. Immuneering has a one year low of $1.00 and a one year high of $8.89. The stock has a market capitalization of $55.15 million, a P/E ratio of -0.97 and a beta of -0.45. The business’s 50-day simple moving average is $2.01 and its 200-day simple moving average is $1.59.

Immuneering (NASDAQ:IMRX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.05. On average, equities research analysts forecast that Immuneering will post -1.89 EPS for the current fiscal year.

Institutional Trading of Immuneering

A number of large investors have recently bought and sold shares of IMRX. Vanguard Group Inc. raised its holdings in shares of Immuneering by 12.1% in the first quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock valued at $3,479,000 after buying an additional 129,851 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Immuneering during the 2nd quarter valued at approximately $67,000. Renaissance Technologies LLC acquired a new stake in Immuneering during the 2nd quarter worth approximately $447,000. XTX Topco Ltd grew its stake in shares of Immuneering by 37.3% in the 2nd quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock valued at $44,000 after purchasing an additional 9,274 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Immuneering in the second quarter valued at approximately $492,000. Institutional investors and hedge funds own 67.65% of the company’s stock.

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.