Immuneering (NASDAQ:IMRX) Given "Buy" Rating at Needham & Company LLC

Key Points

• Immuneering (NASDAQ:IMRX) has been reissued a "Buy" rating by Needham & Company LLC, with a target price of $8.00, suggesting a potential upside of 34.45% from its current price.
• The stock's average rating is classified as a "Moderate Buy" among analysts, with an average target price of $13.00.
• Insider transactions indicate confidence in the company, as Directors and the CEO purchased significant shares recently, collectively acquiring over 127,000 shares in the past 90 days.

Needham & Company LLC reiterated their buy rating on shares of Immuneering (NASDAQ:IMRX - Free Report) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

IMRX has been the topic of several other reports. Chardan Capital reissued a "buy" rating and set a $13.00 price objective on shares of Immuneering in a research note on Thursday, August 14th. Mizuho boosted their price objective on shares of Immuneering from $8.00 to $10.00 and gave the company an "outperform" rating in a research report on Wednesday, June 18th. Finally, 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. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $13.00.

Immuneering Stock Performance

IMRX traded up $0.15 during trading on Tuesday, reaching $5.75. 376,252 shares of the company traded hands, compared to its average volume of 1,246,695. The company has a market cap of $208.84 million, a P/E ratio of -3.04 and a beta of 0.37. Immuneering has a 12-month low of $1.10 and a 12-month high of $6.18. The firm has a fifty day simple moving average of $3.83 and a 200 day simple moving average of $2.37.

Immuneering (NASDAQ:IMRX - Get Free Report) last issued its quarterly earnings data 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, sell-side analysts expect that Immuneering will post -1.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Benjamin J. Zeskind purchased 21,000 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was purchased at an average price of $2.39 per share, with a total value of $50,190.00. Following the completion of the purchase, the chief executive officer owned 2,302,852 shares of the company's stock, valued at approximately $5,503,816.28. The trade was a 0.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter Feinberg bought 25,000 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were acquired at an average cost of $2.53 per share, for a total transaction of $63,250.00. Following the transaction, the director directly owned 136,766 shares in the company, valued at approximately $346,017.98. This trade represents a 22.37% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 127,507 shares of company stock valued at $334,318. Corporate insiders own 22.90% of the company's stock.

Institutional Investors Weigh In On Immuneering

Institutional investors have recently added to or reduced their stakes in the stock. Tang Capital Management LLC acquired a new position in Immuneering during the 4th quarter valued at approximately $27,000. Jane Street Group LLC purchased a new stake in Immuneering in the first quarter valued at approximately $32,000. Kingsview Wealth Management LLC purchased a new stake in Immuneering in the second quarter valued at approximately $47,000. Marshall Wace LLP purchased a new stake in Immuneering in the fourth quarter valued at approximately $47,000. Finally, First Manhattan CO. LLC. purchased a new stake in Immuneering in the fourth quarter valued at approximately $71,000. Institutional investors own 67.65% of the company's stock.

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.