Flower City Capital Makes New Investment in Immuneering Corporation $IMRX

Key Points

• Flower City Capital has acquired 32,029 shares of Immuneering Corporation, valued at approximately $108,000, making up about 0.09% of the company.
• Analysts have recently raised their price targets for Immuneering, with Oppenheimer now projecting a target of $30.00, indicating strong confidence in the company’s performance.
• Immuneering's stock has experienced significant fluctuations, with a 1-year low of $1.10 and a high of $10.08, and currently trades at around $8.08.

Flower City Capital purchased a new position in Immuneering Corporation (NASDAQ:IMRX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 32,029 shares of the company's stock, valued at approximately $108,000. Flower City Capital owned approximately 0.09% of Immuneering at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its holdings in Immuneering by 17.7% in the 1st quarter. HighTower Advisors LLC now owns 83,960 shares of the company's stock worth $128,000 after buying an additional 12,600 shares in the last quarter. Two Sigma Investments LP grew its position in shares of 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 acquiring an additional 10,126 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Immuneering during the 1st quarter valued at $32,000. Institutional investors own 67.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Oppenheimer boosted their price target on Immuneering from $21.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday. Chardan Capital boosted their price target on Immuneering from $13.00 to $20.00 and gave the company a "buy" rating in a report on Friday. Mizuho boosted their price objective on Immuneering from $8.00 to $10.00 and gave the company an "outperform" rating in a research note on Wednesday, June 18th. Finally, Needham & Company LLC upped their price target on shares of Immuneering from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $17.75.

Immuneering Price Performance

IMRX stock opened at $8.08 on Friday. Immuneering Corporation has a 1-year low of $1.10 and a 1-year high of $10.08. The company has a market capitalization of $335.89 million, a price-to-earnings ratio of -4.28 and a beta of 0.43. The business has a 50 day simple moving average of $5.43 and a two-hundred day simple moving average of $3.21.

Immuneering (NASDAQ:IMRX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.40) earnings per share for the quarter, hitting the consensus estimate of ($0.40). Sell-side analysts anticipate that Immuneering Corporation will post -1.86 EPS for the current fiscal year.

Immuneering 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.

Want to see what other hedge funds are holding IMRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Immuneering Corporation (NASDAQ:IMRX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.