Immuneering (NASDAQ:IMRX) Earns Buy Rating from Chardan Capital

Key Points

• Immuneering's stock received a buy rating from Chardan Capital, with a target price of $13.00, indicating a potential upside of 327.63% from its previous close.
• Current consensus ratings show that Immuneering has a Moderate Buy status, with one sell rating and four buy ratings from analysts.
• Insider trading activity includes CEO Benjamin J. Zeskind purchasing 21,000 shares at $2.39 each, increasing his holdings in the company significantly.

Immuneering (NASDAQ:IMRX - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Chardan Capital in a report issued on Thursday,Benzinga reports. They presently have a $13.00 target price on the stock. Chardan Capital's price target indicates a potential upside of 327.63% from the stock's previous close.

IMRX has been the topic of a number of other research reports. Oppenheimer cut their price objective on shares of Immuneering from $25.00 to $21.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC restated a "buy" rating and issued a $9.00 price target on shares of Immuneering in a research note on Wednesday, June 18th. Finally, Mizuho increased their price objective on Immuneering from $8.00 to $10.00 and gave the company an "outperform" rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Immuneering has a consensus rating of "Moderate Buy" and an average price target of $13.25.

Immuneering Price Performance

IMRX traded down $0.18 during trading on Thursday, reaching $3.04. The company had a trading volume of 593,880 shares, compared to its average volume of 1,240,092. The company has a market cap of $109.40 million, a P/E ratio of -1.55 and a beta of 0.37. Immuneering has a 12 month low of $1.00 and a 12 month high of $4.69. The business's fifty day moving average price is $3.33 and its 200 day moving average price is $2.17.

Immuneering (NASDAQ:IMRX - Get Free Report) last released its earnings results on Tuesday, August 19th. The company reported ($0.40) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.40). As a group, sell-side analysts predict that Immuneering will post -1.86 EPS for the current fiscal year.

Insider Activity at Immuneering

In related news, CEO Benjamin J. Zeskind bought 21,000 shares of Immuneering stock in a transaction that occurred on Wednesday, June 18th. The stock was acquired at an average price of $2.39 per share, with a total value of $50,190.00. Following the acquisition, the chief executive officer owned 2,302,852 shares of the company's stock, valued at approximately $5,503,816.28. This represents a 0.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Schall acquired 9,500 shares of the business's stock in a transaction on Friday, June 27th. The shares were bought at an average price of $3.66 per share, with a total value of $34,770.00. Following the completion of the transaction, the director directly owned 52,885 shares of the company's stock, valued at approximately $193,559.10. The trade was a 21.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 127,507 shares of company stock worth $334,318. Company insiders own 22.90% of the company's stock.

Hedge Funds Weigh In On Immuneering

A number of large investors have recently made changes to their positions in IMRX. Geode Capital Management LLC grew its holdings in Immuneering by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 230,275 shares of the company's stock valued at $776,000 after buying an additional 4,458 shares in the last quarter. Southport Management L.L.C. increased its position in 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 acquiring an additional 10,000 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in Immuneering in the 4th quarter worth about $390,000. HighTower Advisors LLC boosted its holdings in Immuneering by 17.7% in the 1st quarter. HighTower Advisors LLC now owns 83,960 shares of the company's stock valued at $128,000 after purchasing an additional 12,600 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in shares of Immuneering by 77.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 51,349 shares of the company's stock worth $113,000 after purchasing an additional 22,400 shares in the last quarter. Institutional investors own 67.65% of the company's stock.

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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