Needham & Company LLC Issues Positive Forecast for Immuneering (NASDAQ:IMRX) Stock Price

Key Points

• Needham & Company LLC has increased its price target for Immuneering (NASDAQ:IMRX) from $8.00 to $11.00, indicating a potential upside of 29.56% from the stock's previous close.
• Immuneering's stock has seen analyst upgrades, with Mizuho raising their target price to $10.00 and Chardan Capital setting a target of $13.00, reflecting a consensus price target of $13.75.
• Recent insider transactions include significant purchases by directors, with Director Thomas J. Schall acquiring 9,500 shares, marking a 21.90% increase in their ownership.

Immuneering (NASDAQ:IMRX - Free Report) had its target price raised by Needham & Company LLC from $8.00 to $11.00 in a research report sent to investors on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Mizuho raised their target price on shares of Immuneering from $8.00 to $10.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Chardan Capital reaffirmed a "buy" rating and set a $13.00 price target on shares of Immuneering in a research report on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.75.

Immuneering Stock Performance

Shares of Immuneering stock traded up $0.06 during midday trading on Monday, reaching $9.07. 352,093 shares of the company's stock traded hands, compared to its average volume of 1,222,295. The company has a market cap of $376.83 million, a price-to-earnings ratio of -4.80 and a beta of 0.43. Immuneering has a 52 week low of $1.10 and a 52 week high of $9.37. The company's 50 day simple moving average is $4.90 and its 200 day simple moving average is $2.91.

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, hitting analysts' consensus estimates of ($0.40). As a group, equities research analysts predict that Immuneering will post -1.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Thomas J. Schall bought 9,500 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were acquired at an average cost of $3.66 per share, with a total value of $34,770.00. Following the completion of the purchase, the director directly owned 52,885 shares of the company's stock, valued at $193,559.10. This trade represents a 21.90% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 31,707 shares of company stock worth $106,578 in the last three months. 22.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Corient Private Wealth LLC purchased a new position in shares of Immuneering during the second quarter worth approximately $215,000. Bridgeway Capital Management LLC raised its stake 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 acquiring an additional 35,000 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Immuneering in the second quarter worth approximately $90,000. Kingsview Wealth Management LLC bought a new position in shares of Immuneering in the second quarter worth approximately $47,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Immuneering by 2.0% during 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. 67.65% of the stock is owned by hedge funds and other institutional investors.

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.