Immuneering Co. (NASDAQ:IMRX) Sees Significant Growth in Short Interest

Immuneering Co. (NASDAQ:IMRX) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 3,020,000 shares, a growth of 98.7% from the August 31st total of 1,520,000 shares. Approximately 14.4% of the shares of the company are sold short. Based on an average trading volume of 6,040,000 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Immuneering during the 2nd quarter worth $44,000. XTX Topco Ltd increased its holdings in shares of Immuneering by 37.3% during the 2nd quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock worth $44,000 after buying an additional 9,274 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Immuneering during the 2nd quarter worth $67,000. Renaissance Technologies LLC acquired a new stake in shares of Immuneering during the 2nd quarter worth $447,000. Finally, Marshall Wace LLP acquired a new stake in shares of Immuneering during the 2nd quarter worth $492,000. 67.65% of the stock is currently owned by institutional investors and hedge funds.

Immuneering Stock Performance

IMRX stock traded up $0.05 on Friday, reaching $2.66. The company had a trading volume of 1,559,029 shares, compared to its average volume of 2,442,021. Immuneering has a 1 year low of $1.00 and a 1 year high of $9.00. The company’s fifty day moving average is $1.50 and its 200 day moving average is $1.65. The company has a market cap of $78.88 million, a P/E ratio of -1.42 and a beta of -0.61.

Immuneering (NASDAQ:IMRX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.05. On average, sell-side analysts predict that Immuneering will post -1.89 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IMRX shares. Chardan Capital lowered their price objective on Immuneering from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Immuneering in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.60.

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.