Chardan Capital Reiterates Buy Rating for Immuneering (NASDAQ:IMRX)

Chardan Capital reaffirmed their buy rating on shares of Immuneering (NASDAQ:IMRX) in a research report report published on Monday,Benzinga reports. They currently have a $13.00 target price on the stock.

IMRX has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Immuneering in a research note on Friday. Morgan Stanley downgraded shares of Immuneering from an “equal weight” rating to an “underweight” rating in a research note on Friday, December 13th.

Immuneering Stock Down 3.3 %

Shares of NASDAQ:IMRX opened at $1.74 on Monday. The company has a market cap of $54.03 million, a P/E ratio of -0.88 and a beta of -0.32. The business has a fifty day simple moving average of $1.79 and a 200-day simple moving average of $2.00. Immuneering has a 52 week low of $1.00 and a 52 week high of $3.83.

Immuneering (NASDAQ:IMRX) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.16). Sell-side analysts expect that Immuneering will post -1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immuneering

Several institutional investors and hedge funds have recently made changes to their positions in IMRX. Corsair Capital Management L.P. bought a new position in Immuneering in the third quarter worth about $25,000. Tang Capital Management LLC acquired a new stake in Immuneering in the 4th quarter valued at approximately $27,000. Marshall Wace LLP acquired a new position in Immuneering during the 4th quarter worth $47,000. First Manhattan CO. LLC. acquired a new position in Immuneering during the 4th quarter worth $71,000. Finally, XTX Topco Ltd grew its stake in shares of Immuneering by 177.2% in the fourth quarter. XTX Topco Ltd now owns 32,650 shares of the company’s stock worth $72,000 after purchasing an additional 20,871 shares in the last quarter. 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.