Immuneering Corporation (NASDAQ:IMRX) Short Interest Up 112.2% in September

Key Points

• Immuneering Corporation (NASDAQ:IMRX) experienced a 112.2% increase in short interest in September, totaling 6,280,000 shares.
• Insider trading activity saw Director Peter Feinberg acquiring 7,500 shares of the company, increasing his ownership by 5.02% and valuing his total shares at over $1 million.
• Wall Street analysts have given mixed ratings, with price targets ranging from $11.00 to $30.00, highlighting both optimism and caution regarding the company's future performance.

Immuneering Corporation (NASDAQ:IMRX - Get Free Report) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 6,280,000 shares, an increase of 112.2% from the September 15th total of 2,960,000 shares. Based on an average trading volume of 1,630,000 shares, the days-to-cover ratio is presently 3.9 days. Approximately 17.4% of the company's stock are sold short. Approximately 17.4% of the company's stock are sold short. Based on an average trading volume of 1,630,000 shares, the days-to-cover ratio is presently 3.9 days.

Insiders Place Their Bets

In other Immuneering news, Director Peter Feinberg acquired 7,500 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was bought at an average cost of $6.67 per share, with a total value of $50,025.00. Following the completion of the purchase, the director directly owned 156,766 shares in the company, valued at $1,045,629.22. The trade was a 5.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 20,800 shares of company stock valued at $143,754 over the last ninety days. 22.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Immuneering

Hedge funds and other institutional investors have recently bought and sold shares of the business. Flower City Capital acquired a new position in Immuneering in the 2nd quarter worth approximately $108,000. 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 during the period. Geode Capital Management LLC grew its stake in shares of Immuneering by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 230,275 shares of the company's stock worth $776,000 after purchasing an additional 4,458 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of Immuneering by 57.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 95,449 shares of the company's stock worth $322,000 after purchasing an additional 35,000 shares during the period. Finally, Corient Private Wealth LLC acquired a new stake in shares of Immuneering during the 2nd quarter worth approximately $215,000. Institutional investors and hedge funds own 67.65% of the company's stock.

Wall Street Analysts Forecast Growth

IMRX has been the subject of a number of research reports. Oppenheimer upped their price objective on shares of Immuneering from $21.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, September 25th. HC Wainwright reiterated a "buy" rating and issued a $11.00 target price on shares of Immuneering in a report on Tuesday, September 30th. Chardan Capital boosted their target price on shares of Immuneering from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Immuneering in a report on Wednesday, October 8th. Finally, Needham & Company LLC boosted their target price on shares of Immuneering from $8.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Immuneering has a consensus rating of "Hold" and an average price target of $16.40.

Immuneering Stock Up 0.5%

Shares of IMRX traded up $0.03 during mid-day trading on Monday, hitting $5.61. 998,180 shares of the company traded hands, compared to its average volume of 1,477,262. Immuneering has a 1-year low of $1.10 and a 1-year high of $10.08. The company has a market capitalization of $233.21 million, a PE ratio of -2.97 and a beta of 0.47. The business has a 50 day moving average of $6.18 and a 200 day moving average of $3.71.

Immuneering (NASDAQ:IMRX - Get Free Report) last issued 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). As a group, research analysts expect that Immuneering will post -1.86 EPS for the current fiscal year.

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.

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