Immuneering Corporation (NASDAQ:IMRX) Short Interest Up 61.7% in September

Key Points

• Immuneering Corporation experienced a significant rise in short interest, increasing by 61.7% in September, with a total of 2,960,000 shares sold short as of September 15th.
• Insider activity included Director Peter Feinberg acquiring 7,500 shares at an average price of $7.03 per share, representing a 5.29% increase in their ownership.
• Various financial analysts have given the stock a range of ratings, with a consensus target price of $16.40, indicating potential for growth as several firms maintain a "buy" rating.

Immuneering Corporation (NASDAQ:IMRX - Get Free Report) saw a significant increase in short interest in September. As of September 15th, there was short interest totaling 2,960,000 shares, an increase of 61.7% from the August 31st total of 1,830,000 shares. Approximately 10.0% of the shares of the stock are sold short. Based on an average daily volume of 1,000,000 shares, the days-to-cover ratio is currently 3.0 days. Based on an average daily volume of 1,000,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 10.0% of the shares of the stock are sold short.

Immuneering Stock Performance

IMRX traded up $0.21 during trading on Monday, reaching $6.26. The company's stock had a trading volume of 1,649,483 shares, compared to its average volume of 1,467,593. The company has a market capitalization of $260.23 million, a price-to-earnings ratio of -3.34 and a beta of 0.47. The company's fifty day moving average price is $5.68 and its 200-day moving average price is $3.40. Immuneering has a 52-week low of $1.10 and a 52-week high of $10.08.

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, meeting analysts' consensus estimates of ($0.40). Equities analysts predict that Immuneering will post -1.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Peter Feinberg acquired 7,500 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $7.03 per share, with a total value of $52,725.00. Following the completion of the purchase, the director directly owned 149,266 shares in the company, valued at approximately $1,049,339.98. This trade represents a 5.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 13,300 shares of company stock worth $93,729 over the last quarter. Insiders own 22.90% of the company's stock.

Institutional Trading of Immuneering

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC purchased a new stake in shares of Immuneering during the second quarter worth about $215,000. Bridgeway Capital Management LLC boosted its holdings in shares of Immuneering by 57.9% during the second 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 last quarter. Flower City Capital acquired a new position in Immuneering in the second quarter valued at $108,000. XTX Topco Ltd purchased a new position in Immuneering during the second quarter worth about $90,000. Finally, Jane Street Group LLC acquired a new stake in Immuneering in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 67.65% of the company's stock.

Wall Street Analyst Weigh In

IMRX has been the subject of several recent analyst reports. HC Wainwright restated a "buy" rating and issued a $11.00 target price on shares of Immuneering in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Immuneering in a report on Saturday, September 27th. Mizuho increased their price target on shares of Immuneering from $8.00 to $10.00 and gave the stock an "outperform" rating in a report on Wednesday, June 18th. Chardan Capital raised their target price on Immuneering from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, September 26th. 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. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, Immuneering has an average rating of "Hold" and a consensus target price of $16.40.

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.

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.