Short Interest in Immuneering Co. (NASDAQ:IMRX) Declines By 23.1%

Immuneering Co. (NASDAQ:IMRX - Get Free Report) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 1,760,000 shares, a drop of 23.1% from the December 31st total of 2,290,000 shares. Currently, 7.9% of the company's stock are short sold. Based on an average daily trading volume, of 2,290,000 shares, the short-interest ratio is currently 0.8 days.

Immuneering Price Performance

Shares of IMRX traded up $0.06 during mid-day trading on Thursday, reaching $1.97. The stock had a trading volume of 119,881 shares, compared to its average volume of 5,096,689. The firm has a market cap of $61.01 million, a price-to-earnings ratio of -1.00 and a beta of -0.34. Immuneering has a 52-week low of $1.00 and a 52-week high of $7.68. The business's fifty day moving average is $2.07 and its 200 day moving average is $1.85.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IMRX. Morgan Stanley lowered shares of Immuneering from an "equal weight" rating to an "underweight" rating in a report on Friday, December 13th. Chardan Capital reaffirmed a "buy" rating and set a $13.00 price objective on shares of Immuneering in a research report on Wednesday, January 8th. Finally, Needham & Company LLC restated a "buy" rating and issued a $15.00 price target on shares of Immuneering in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $12.80.

Hedge Funds Weigh In On Immuneering

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of Immuneering in the 2nd quarter valued at $447,000. XTX Topco Ltd increased its holdings 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 acquiring an additional 9,274 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Immuneering during the 2nd quarter worth about $492,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Immuneering in the second quarter valued at approximately $44,000. Finally, Vontobel Holding Ltd. acquired a new stake in Immuneering during the third quarter worth approximately $25,000. 67.65% of the stock is currently owned by hedge funds and other institutional investors.

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.