Immuneering (NASDAQ:IMRX) Shares Down 7% on Disappointing Earnings

Immuneering Corporation (NASDAQ:IMRX)’s share price traded down 7% during trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $3.72 and last traded at $3.74. 1,138,840 shares changed hands during trading, an increase of 45% from the average session volume of 784,586 shares. The stock had previously closed at $4.02.

The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.06).

Analyst Ratings Changes

IMRX has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immuneering in a research report on Monday, September 21st. Wall Street Zen cut shares of Immuneering from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Needham & Company LLC lifted their price target on shares of Immuneering from $11.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Mizuho set a $11.00 price target on shares of Immuneering in a research note on Thursday. Finally, Cantor Fitzgerald initiated coverage on shares of Immuneering in a report on Wednesday, July 8th. They set an “overweight” rating and a $17.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $15.57.

Institutional Investors Weigh In On Immuneering

Several hedge funds and other institutional investors have recently modified their holdings of IMRX. PVG Asset Management Corp acquired a new position in shares of Immuneering during the first quarter worth approximately $773,000. Weiss Asset Management LP bought a new position in shares of Immuneering in the 1st quarter worth $464,000. Hsbc Holdings PLC acquired a new stake in Immuneering in the 1st quarter valued at $198,000. Levin Capital Strategies L.P. acquired a new stake in Immuneering in the 1st quarter valued at $53,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Immuneering in the 1st quarter valued at $75,000. Institutional investors own 67.65% of the company’s stock.

Immuneering Stock Performance

The firm has a market cap of $241.98 million, a P/E ratio of -3.63 and a beta of 0.46. The stock’s 50 day simple moving average is $4.28 and its 200 day simple moving average is $4.80.

About Immuneering

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.