Short Interest in Immuneering Co. (NASDAQ:IMRX) Expands By 41.4%

Immuneering Co. (NASDAQ:IMRX) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 2,290,000 shares, an increase of 41.4% from the November 30th total of 1,620,000 shares. Approximately 10.2% of the shares of the stock are short sold. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IMRX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Immuneering in a report on Thursday, November 14th. Morgan Stanley cut Immuneering from an “equal weight” rating to an “underweight” rating in a report on Friday, December 13th. Finally, Chardan Capital reissued a “buy” rating and set a $13.00 price target on shares of Immuneering in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Immuneering currently has a consensus rating of “Hold” and a consensus price target of $12.80.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd lifted its position in shares of Immuneering by 37.3% during the second quarter. XTX Topco Ltd now owns 34,159 shares of the company’s stock worth $44,000 after purchasing an additional 9,274 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Immuneering by 21.4% during the 3rd quarter. HighTower Advisors LLC now owns 53,360 shares of the company’s stock worth $132,000 after buying an additional 9,400 shares in the last quarter. Corsair Capital Management L.P. acquired a new position in shares of Immuneering in the third quarter worth $25,000. Vontobel Holding Ltd. acquired a new position in Immuneering during the 3rd quarter worth $25,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Immuneering in the 2nd quarter valued at about $44,000. 67.65% of the stock is currently owned by institutional investors and hedge funds.

Immuneering Stock Down 3.4 %

Shares of IMRX traded down $0.08 during trading on Monday, reaching $2.25. 320,437 shares of the company traded hands, compared to its average volume of 2,079,917. The stock has a market cap of $69.86 million, a PE ratio of -1.14 and a beta of -0.33. The stock has a 50-day simple moving average of $2.01 and a 200-day simple moving average of $1.73. Immuneering has a twelve month low of $1.00 and a twelve month high of $7.68.

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.