Immuneering Co. (NASDAQ:IMRX) Sees Significant Decrease in Short Interest

Immuneering Co. (NASDAQ:IMRX - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 1,420,000 shares, a decline of 12.9% from the February 28th total of 1,630,000 shares. Currently, 5.5% of the company's shares are sold short. Based on an average daily volume of 1,700,000 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On Immuneering

Hedge funds and other institutional investors have recently modified their holdings of the business. Tang Capital Management LLC bought a new position in Immuneering in the fourth quarter worth approximately $27,000. Marshall Wace LLP bought a new position in shares of Immuneering in the 4th quarter worth $47,000. First Manhattan CO. LLC. purchased a new stake in shares of Immuneering during the 4th quarter worth $71,000. XTX Topco Ltd boosted its position in Immuneering by 177.2% during the fourth quarter. XTX Topco Ltd now owns 32,650 shares of the company's stock valued at $72,000 after purchasing an additional 20,871 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Immuneering by 25.0% in the fourth quarter. Two Sigma Investments LP now owns 50,557 shares of the company's stock valued at $111,000 after purchasing an additional 10,126 shares during the last quarter. 67.65% of the stock is currently owned by institutional investors.

Immuneering Price Performance

IMRX stock traded down $0.10 during mid-day trading on Friday, reaching $1.41. The company had a trading volume of 154,310 shares, compared to its average volume of 1,675,122. The firm has a 50 day moving average of $1.72 and a 200 day moving average of $2.01. Immuneering has a 12 month low of $1.00 and a 12 month high of $3.83. The company has a market capitalization of $50.60 million, a PE ratio of -0.72 and a beta of -0.32.

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Immuneering (NASDAQ:IMRX - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.16). Analysts anticipate that Immuneering will post -1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley downgraded Immuneering from an "equal weight" rating to an "underweight" rating in a research report on Friday, December 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $12.00 price target on shares of Immuneering in a research note on Friday, March 21st. Finally, Chardan Capital restated a "buy" rating and set a $13.00 target price on shares of Immuneering in a research report on Monday, March 24th.

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.