Immuneering (NASDAQ:IMRX) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Immuneering (NASDAQ:IMRX) in a research note issued to investors on Friday,Benzinga reports. Needham & Company LLC currently has a $12.00 target price on the stock.

IMRX has been the subject of several other 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 set a $13.00 target price on shares of Immuneering in a report on Wednesday, January 8th.

Immuneering Price Performance

Immuneering stock opened at $1.80 on Friday. Immuneering has a 12 month low of $1.00 and a 12 month high of $3.83. The company has a market cap of $55.89 million, a price-to-earnings ratio of -0.91 and a beta of -0.32. The stock’s 50-day moving average is $1.79 and its 200-day moving average is $1.99.

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

Institutional Trading of Immuneering

Several large investors have recently modified their holdings of IMRX. Two Sigma Investments LP grew its stake in Immuneering by 25.0% during the 4th 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 in the last quarter. Tang Capital Management LLC purchased a new position in shares of Immuneering during the 4th quarter valued at approximately $27,000. Southport Management L.L.C. grew its position in shares of Immuneering by 4.9% during the fourth quarter. Southport Management L.L.C. now owns 215,000 shares of the company’s stock worth $473,000 after buying an additional 10,000 shares in the last quarter. First Manhattan CO. LLC. bought a new stake in shares of Immuneering in the fourth quarter worth $71,000. Finally, Bridgeway Capital Management LLC raised its holdings in Immuneering by 77.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 51,349 shares of the company’s stock valued at $113,000 after acquiring an additional 22,400 shares in the last quarter. 67.65% of the stock is currently owned by institutional investors and hedge funds.

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.