Immuneering Co. (NASDAQ:IMRX) Short Interest Up 98.7% in September

Immuneering Co. (NASDAQ:IMRX) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 3,020,000 shares, a growth of 98.7% from the August 31st total of 1,520,000 shares. Currently, 14.4% of the company’s stock are sold short. Based on an average daily volume of 6,040,000 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On Immuneering

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Immuneering by 12.1% during 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 bought a new stake in shares of Immuneering during the second quarter valued at approximately $67,000. Renaissance Technologies LLC bought a new stake in shares of Immuneering during the second quarter valued at approximately $447,000. Marshall Wace LLP bought a new stake in shares of Immuneering during the second quarter valued at approximately $492,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Immuneering during the second quarter valued at approximately $44,000. Institutional investors own 67.65% of the company’s stock.

Immuneering Trading Up 1.9 %

NASDAQ IMRX traded up $0.05 during trading hours on Friday, reaching $2.66. The company’s stock had a trading volume of 1,559,029 shares, compared to its average volume of 2,442,021. The business has a 50-day simple moving average of $1.50 and a 200 day simple moving average of $1.68. Immuneering has a 52 week low of $1.00 and a 52 week high of $9.00. The stock has a market cap of $78.88 million, a PE ratio of -1.42 and a beta of -0.61.

Immuneering (NASDAQ:IMRX) last issued its earnings results on Tuesday, August 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. As a group, equities analysts predict that Immuneering will post -1.89 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on IMRX shares. Chardan Capital reduced 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 set a $15.00 price target on shares of Immuneering in a research report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.60.

Immuneering Company Profile

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.