Immuneering Co. (NASDAQ:IMRX – Get Rating) benefited from a sharp drop in short-term interest rates in May. As of May 15, there was short interest totaling 1,800,000 shares, down 24.4% from the April 30 total of 2,380,000 shares. Based on an average daily volume of 164,600 shares, the short interest ratio is currently 10.9 days. Currently, 9.4% of the company’s shares are sold short.
Separately, director Laurie Keating purchased 7,000 shares of the company in a trade on Monday, May 16. The shares were purchased at an average price of $5.00 per share, for a total transaction of $35,000.00. Following the completion of the purchase, the director now directly owns 14,000 shares of the company, valued at $70,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Additionally, director Ann E. Berman purchased 6,000 shares of the company in a trade on Tuesday, March 15. The shares were purchased at an average cost of $6.40 per share, with a total value of $38,400.00. Disclosure of this purchase can be found here. During the last quarter, insiders purchased 21,451 shares of the company worth $123,501.
A number of institutional investors and hedge funds have recently changed their positions in IMRX. UBS Group AG acquired a new position in Immuneering shares in Q3 worth $30,000. Citigroup Inc. acquired a new position in Immuneering stock in the third quarter worth approximately $33,000. California State Teachers Retirement System increased its equity stake in Immuneering by 81.8% during the first quarter. California State Teachers Retirement System now owns 8,124 shares of the company worth $53,000 after acquiring 3,656 additional shares in the last quarter. American International Group Inc. increased its position in Immuneering shares by 111.1% during the first quarter. American International Group Inc. now owns 9,432 shares of the company valued at $61,000 after acquiring an additional 4,964 shares during the period. Finally, Metropolitan Life Insurance Co NY bought a new position in Immuneering stock in Q3 worth approximately $75,000. 47.41% of the shares are currently held by institutional investors.
NASDAQ:IMRX shares were up $0.29 during Monday’s trading, hitting $4.62. The stock had trading volume of 2,211 shares, compared to an average volume of 143,554. Immuneering has a 12-month low of $3.74 and a 12-month high of $33.99. The stock has a 50-day simple moving average of $5.90 and a 200-day simple moving average of $11.58.
Immuneering (NASDAQ:IMRX – Get Rating) last reported quarterly earnings data on Thursday, March 10. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.03). The company posted revenue of $0.19 million for the quarter, versus analyst estimates of $0.60 million. Immuneering had a negative net margin of 2,651.85% and a negative return on equity of 38.00%. As a group, equity analysts expect Immuneering to post -2.1 EPS for the current fiscal year.
A number of equity research analysts have weighed in on the company recently. Zacks Investment Research downgraded Immuneering from a “buy” rating to a “hold” rating in a Friday, May 13 research note. Oppenheimer launched coverage on Immuneering’s stock in a research note on Thursday, March 31. They issued an “outperform” rating and a target price of $25.00 for the company. Two equity research analysts gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $29.13.
Immunization Company Profile (Get a rating)
Immuneering Corporation, a biopharmaceutical company, is focused on product candidates in oncology and neuroscience. Its lead product candidates include IMM-1-104, a dual-MEK inhibitor to treat cancer patients, including pancreatic cancer, melanoma, colorectal cancer and non-small cell lung cancer caused by mutations RAS and/or RAF; and IMM-6-415 to treat solid tumors.
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