Immuneering (NASDAQ:IMRX) Stock Rating Lowered by Morgan Stanley

Immuneering (NASDAQ:IMRX - Get Free Report) was downgraded by stock analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports.

A number of other research analysts also recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Immuneering in a research report on Thursday, November 14th. Chardan Capital reissued a "buy" rating and issued a $13.00 price target on shares of Immuneering in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Immuneering has a consensus rating of "Hold" and a consensus price target of $12.80.

Immuneering Price Performance

Shares of IMRX traded down $0.34 during trading hours on Friday, hitting $1.64. 1,834,068 shares of the stock were exchanged, compared to its average volume of 2,144,885. The firm has a market capitalization of $50.77 million, a P/E ratio of -0.89 and a beta of -0.33. Immuneering has a fifty-two week low of $1.00 and a fifty-two week high of $8.41. The business has a 50-day moving average of $2.07 and a 200-day moving average of $1.68.

Hedge Funds Weigh In On Immuneering

A number of institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. bought a new stake in Immuneering during the 3rd quarter valued at $25,000. Corsair Capital Management L.P. bought a new stake in shares of Immuneering during the third quarter worth about $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Immuneering during the second quarter worth about $44,000. XTX Topco Ltd raised 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 worth $44,000 after acquiring an additional 9,274 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Immuneering in the 2nd quarter valued at about $67,000. 67.65% of the stock is 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.