Immuneering (NASDAQ:IMRX) Earns "Buy" Rating from Needham & Company LLC

Immuneering (NASDAQ:IMRX - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $9.00 target price on the stock. Needham & Company LLC's price objective would suggest a potential upside of 394.51% from the company's current price.

A number of other analysts also recently commented on the stock. Chardan Capital reissued a "buy" rating and set a $13.00 price objective on shares of Immuneering in a report on Tuesday, May 6th. Oppenheimer decreased their price target on Immuneering from $25.00 to $21.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th.

Immuneering Price Performance

Immuneering stock opened at $1.82 on Wednesday. The stock's 50 day moving average price is $1.53 and its 200 day moving average price is $1.74. The company has a market cap of $65.50 million, a PE ratio of -0.93 and a beta of 0.01. Immuneering has a 1-year low of $1.00 and a 1-year high of $3.83.

Immuneering (NASDAQ:IMRX - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.01). On average, equities research analysts anticipate that Immuneering will post -1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Immuneering

A number of large investors have recently added to or reduced their stakes in IMRX. Southport Management L.L.C. lifted its holdings in shares of Immuneering by 4.9% in the fourth quarter. Southport Management L.L.C. now owns 215,000 shares of the company's stock valued at $473,000 after purchasing an additional 10,000 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Immuneering during the 4th quarter worth approximately $390,000. HighTower Advisors LLC lifted its stake 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 buying an additional 12,600 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in Immuneering by 77.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 51,349 shares of the company's stock valued at $113,000 after buying an additional 22,400 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in 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 buying an additional 10,126 shares during the last quarter. 67.65% of the stock is owned by institutional investors and hedge funds.

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.