Needham & Company LLC Reaffirms "Buy" Rating for Immuneering (NASDAQ:IMRX)

Immuneering (NASDAQ:IMRX - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $12.00 price objective on the stock.

IMRX has been the topic of a number of other research reports. Morgan Stanley downgraded Immuneering from an "equal weight" rating to an "underweight" rating in a report on Friday, December 13th. Chardan Capital reiterated a "buy" rating and issued a $13.00 price objective on shares of Immuneering in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.20.

Immuneering Stock Down 2.1 %

Shares of IMRX traded down $0.04 during trading hours on Thursday, reaching $1.86. 373,605 shares of the company traded hands, compared to its average volume of 3,841,377. Immuneering has a 12 month low of $1.00 and a 12 month high of $7.68. The company's fifty day moving average price is $2.05 and its two-hundred day moving average price is $1.89. The company has a market capitalization of $57.75 million, a price-to-earnings ratio of -0.94 and a beta of -0.36.

Hedge Funds Weigh In On Immuneering

Several institutional investors and hedge funds have recently modified their holdings of IMRX. HighTower Advisors LLC increased its stake in Immuneering by 21.4% during the 3rd quarter. HighTower Advisors LLC now owns 53,360 shares of the company's stock valued at $132,000 after purchasing an additional 9,400 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Immuneering during the third quarter valued at approximately $25,000. Corsair Capital Management L.P. purchased a new position in Immuneering in the 3rd quarter worth approximately $25,000. Tidemark LLC bought a new position in Immuneering in the 3rd quarter valued at approximately $129,000. Finally, Renaissance Technologies LLC purchased a new stake in Immuneering during the 2nd quarter valued at $447,000. 67.65% of the stock is currently owned by institutional investors.

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.