Immuneering Co. (NASDAQ:IMRX) Short Interest Up 39.9% in May

Immuneering Co. (NASDAQ:IMRX - Get Free Report) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 924,600 shares, a growth of 39.9% from the May 15th total of 660,800 shares. Based on an average daily trading volume, of 212,100 shares, the days-to-cover ratio is presently 4.4 days. Approximately 3.6% of the shares of the company are short sold.

Immuneering Stock Up 24.7%

Shares of NASDAQ:IMRX traded up $0.47 during trading on Monday, hitting $2.37. 1,623,001 shares of the stock traded hands, compared to its average volume of 2,352,222. The company has a fifty day moving average price of $1.50 and a two-hundred day moving average price of $1.74. Immuneering has a 52-week low of $1.00 and a 52-week high of $3.83. The company has a market cap of $85.29 million, a price-to-earnings ratio of -1.20 and a beta of 0.01.

Immuneering (NASDAQ:IMRX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.01). On average, equities research analysts predict that Immuneering will post -1.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Immuneering

A number of large investors have recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in Immuneering in the fourth quarter valued at approximately $47,000. Two Sigma Investments LP grew its stake in Immuneering by 25.0% in 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. HighTower Advisors LLC grew its stake in Immuneering by 33.7% in the 4th quarter. HighTower Advisors LLC now owns 71,360 shares of the company's stock valued at $157,000 after acquiring an additional 18,000 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in Immuneering in the 4th quarter worth $390,000. Finally, Bridgeway Capital Management LLC raised its position in Immuneering by 77.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 51,349 shares of the company's stock worth $113,000 after acquiring an additional 22,400 shares during the period. Institutional investors and hedge funds own 67.65% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on IMRX shares. Oppenheimer dropped their price objective on shares of Immuneering from $25.00 to $21.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Chardan Capital reaffirmed a "buy" rating and issued a $13.00 price target on shares of Immuneering in a report on Tuesday, May 6th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $9.00 price objective on shares of Immuneering in a research note on Thursday, June 5th.

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.

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