Immuneering (NASDAQ:IMRX) Releases Earnings Results

Immuneering (NASDAQ:IMRX) posted its quarterly earnings results on Thursday. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.06), FiscalAI reports.

Immuneering Stock Down 4.1%

NASDAQ:IMRX traded down $0.17 on Friday, reaching $3.85. 659,157 shares of the company’s stock traded hands, compared to its average volume of 1,225,513. The stock has a 50-day simple moving average of $4.31 and a 200-day simple moving average of $4.80. Immuneering has a 12 month low of $3.38 and a 12 month high of $8.48. The firm has a market cap of $249.42 million, a PE ratio of -3.71 and a beta of 0.46.

Analyst Ratings Changes

A number of equities analysts have weighed in on IMRX shares. Cantor Fitzgerald started coverage on Immuneering in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $17.00 target price for the company. Wall Street Zen lowered shares of Immuneering from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. Needham & Company LLC increased their price objective on shares of Immuneering from $11.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, July 20th. HC Wainwright restated a “buy” rating on shares of Immuneering in a report on Friday. Finally, Chardan Capital raised shares of Immuneering to a “strong-buy” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $15.57.

Institutional Trading of Immuneering

Hedge funds have recently modified their holdings of the company. VestGen Advisors LLC increased its holdings in shares of Immuneering by 100.0% in the 3rd quarter. VestGen Advisors LLC now owns 20,002 shares of the company’s stock worth $82,000 after buying an additional 10,002 shares during the last quarter. Park Avenue Securities LLC bought a new position in Immuneering in the 3rd quarter worth about $57,000. Vontobel Holding Ltd. purchased a new stake in shares of Immuneering in the 3rd quarter worth $71,000. WINTON GROUP Ltd purchased a new stake in Immuneering in the second quarter worth about $86,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Immuneering during the second quarter worth $34,000. 67.65% of the stock is owned by hedge funds and other institutional investors.

Immuneering Company Profile

Immuneering Corporation is a clinical-stage biopharmaceutical company focused on developing medicines for cancer and other serious diseases. The company uses computational biology and drug-discovery technologies to identify therapeutic opportunities in complex biological pathways, with a particular emphasis on the RAS–RAF–MEK–ERK signaling pathway, which is frequently altered in cancer.

Immuneering’s lead product candidate, IMM-1-104, is an orally administered pan-RAF inhibitor designed to provide deep and durable suppression of the MAP kinase pathway while potentially limiting treatment resistance.