Immuneering Co. (NASDAQ:IMRX – Get Free Report) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 2,570,000 shares, a decrease of 6.9% from the November 15th total of 2,760,000 shares. Based on an average daily volume of 59,700 shares, the short-interest ratio is presently 43.0 days. Currently, 12.1% of the company’s stock are short sold.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of IMRX. Tower Research Capital LLC TRC increased its holdings in shares of Immuneering by 296.1% during the third quarter. Tower Research Capital LLC TRC now owns 3,248 shares of the company’s stock worth $25,000 after purchasing an additional 2,428 shares during the period. UBS Group AG bought a new position in shares of Immuneering during the first quarter worth approximately $26,000. California State Teachers Retirement System increased its stake in Immuneering by 81.8% in the first quarter. California State Teachers Retirement System now owns 8,124 shares of the company’s stock valued at $53,000 after acquiring an additional 3,656 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in Immuneering in the second quarter valued at approximately $57,000. Finally, American International Group Inc. increased its stake in Immuneering by 111.1% in the first quarter. American International Group Inc. now owns 9,432 shares of the company’s stock valued at $61,000 after acquiring an additional 4,964 shares during the last quarter. 58.98% of the stock is owned by institutional investors.
Immuneering Stock Performance
NASDAQ:IMRX traded up $0.27 during mid-day trading on Friday, hitting $8.00. The stock had a trading volume of 292,312 shares, compared to its average volume of 72,204. Immuneering has a twelve month low of $3.70 and a twelve month high of $14.29. The stock has a market cap of $234.15 million, a price-to-earnings ratio of -4.28 and a beta of -0.82. The company’s 50 day simple moving average is $6.49 and its 200 day simple moving average is $8.30.
Immuneering (NASDAQ:IMRX – Get Free Report) last released its quarterly earnings results on Thursday, November 9th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.08. As a group, equities analysts forecast that Immuneering will post -1.84 earnings per share for the current year.
Analyst Ratings Changes
Separately, Needham & Company LLC started coverage on shares of Immuneering in a research note on Friday, December 1st. They set a “buy” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Immuneering presently has a consensus rating of “Moderate Buy” and an average target price of $20.20.
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 currently in Investigational New Drug application to treat solid tumors.