Immuneering's (IMRX) "Buy" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Immuneering (NASDAQ:IMRX - Free Report) in a report issued on Monday,Benzinga reports. They currently have a $15.00 price target on the stock.

A number of other brokerages have also weighed in on IMRX. Morgan Stanley lowered shares of Immuneering from an "equal weight" rating to an "underweight" rating in a research note on Friday, December 13th. Chardan Capital restated a "buy" rating and issued a $13.00 target price on shares of Immuneering in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Immuneering currently has a consensus rating of "Hold" and an average price target of $12.80.

Immuneering Price Performance

Shares of IMRX traded down $0.06 during trading hours on Monday, reaching $2.01. 1,523,535 shares of the company's stock traded hands, compared to its average volume of 12,901,854. The firm has a market capitalization of $62.41 million, a price-to-earnings ratio of -1.02 and a beta of -0.34. The business's fifty day simple moving average is $2.05 and its two-hundred day simple moving average is $1.78. Immuneering has a twelve month low of $1.00 and a twelve month high of $7.68.

Hedge Funds Weigh In On Immuneering

Hedge funds have recently modified their holdings of the stock. Corsair Capital Management L.P. purchased a new stake in shares of Immuneering in the 3rd quarter valued at approximately $25,000. Vontobel Holding Ltd. purchased a new stake in shares of Immuneering in the third quarter valued at $25,000. XTX Topco Ltd lifted its holdings in shares of Immuneering by 37.3% in the second quarter. XTX Topco Ltd now owns 34,159 shares of the company's stock valued at $44,000 after purchasing an additional 9,274 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Immuneering in the second quarter worth $44,000. Finally, Tidemark LLC purchased a new position in shares of Immuneering during the third quarter valued at $129,000. 67.65% of the stock is currently owned by institutional investors and hedge funds.

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.