Short Interest in Immuneering Co. (NASDAQ:IMRX) Drops By 23.7%

Immuneering Co. (NASDAQ:IMRX - Get Free Report) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 660,800 shares, a decrease of 23.7% from the April 30th total of 866,100 shares. Based on an average trading volume of 192,800 shares, the days-to-cover ratio is presently 3.4 days. Approximately 2.6% of the company's stock are sold short.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Chardan Capital reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Immuneering in a research note on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and set a $12.00 price objective on shares of Immuneering in a report on Thursday, April 10th. Finally, Oppenheimer reduced their price target on shares of Immuneering from $25.00 to $21.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th.

Immuneering Stock Up 4.8%

Shares of NASDAQ IMRX traded up $0.09 during midday trading on Tuesday, reaching $1.96. 437,355 shares of the stock were exchanged, compared to its average volume of 2,344,860. The firm has a market cap of $70.53 million, a price-to-earnings ratio of -0.99 and a beta of -0.22. Immuneering has a twelve month low of $1.00 and a twelve month high of $3.83. The firm has a 50-day simple moving average of $1.40 and a two-hundred day simple moving average of $1.74.

Immuneering (NASDAQ:IMRX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.01). Research analysts expect that Immuneering will post -1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Immuneering

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in shares of Immuneering during the 1st quarter worth $32,000. HighTower Advisors LLC raised its holdings in shares of Immuneering by 17.7% during the 1st quarter. HighTower Advisors LLC now owns 83,960 shares of the company's stock worth $128,000 after acquiring an additional 12,600 shares during the period. Two Sigma Investments LP raised its holdings in shares of Immuneering by 25.0% during the 4th quarter. Two Sigma Investments LP now owns 50,557 shares of the company's stock worth $111,000 after acquiring an additional 10,126 shares during the period. Tang Capital Management LLC purchased a new position in shares of Immuneering during the 4th quarter worth $27,000. Finally, Southport Management L.L.C. raised its holdings in shares of Immuneering by 4.9% during the 4th 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. Institutional investors and hedge funds 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.