Immuneering (NASDAQ:IMRX) Stock Price Expected to Rise, Chardan Capital Analyst Says

Key Points

• Chardan Capital has raised its price target for Immuneering (NASDAQ:IMRX) from $13.00 to $20.00, indicating a potential upside of 150.00% from its previous closing price.
• Other brokerages such as Oppenheimer and Needham & Company have also increased their price targets, showing a consensus rating of "Moderate Buy" with an average target price of $17.75.
• Immuneering's stock has experienced volatility, recently down 13.3%, and has a market capitalization of approximately $332.56 million.

Immuneering (NASDAQ:IMRX - Get Free Report) had its price target lifted by investment analysts at Chardan Capital from $13.00 to $20.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Chardan Capital's price objective would suggest a potential upside of 150.00% from the stock's previous close.

Several other brokerages also recently issued reports on IMRX. Oppenheimer lifted their price target on shares of Immuneering from $21.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday. Needham & Company LLC raised their price objective on shares of Immuneering from $8.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Finally, Mizuho boosted their target price on Immuneering from $8.00 to $10.00 and gave the stock an "outperform" rating in a report on Wednesday, June 18th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.75.

Immuneering Stock Down 13.3%

NASDAQ:IMRX opened at $8.00 on Friday. The firm has a 50-day moving average price of $5.35 and a 200 day moving average price of $3.16. The firm has a market capitalization of $332.56 million, a PE ratio of -4.23 and a beta of 0.43. Immuneering has a 12-month low of $1.10 and a 12-month high of $10.08.

Immuneering (NASDAQ:IMRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.40) earnings per share for the quarter, meeting the consensus estimate of ($0.40). On average, research analysts expect that Immuneering will post -1.86 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in shares of Immuneering in the 1st quarter valued at $32,000. Kingsview Wealth Management LLC bought a new position in Immuneering in the second quarter valued at about $47,000. XTX Topco Ltd acquired a new stake in Immuneering in the second quarter worth about $90,000. Flower City Capital bought a new stake in Immuneering during the 2nd quarter worth about $108,000. Finally, Two Sigma Investments LP lifted its position 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 purchasing an additional 10,126 shares during the period. 67.65% of the stock is currently owned by institutional investors.

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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