Immuneering Corporation Stock Rated “Hold” as Analysts Weigh In

Shares of Immuneering Corporation (NASDAQ:IMRX) have received an average recommendation of “Hold” from analysts covering the stock. This assessment comes from seven brokerages, as reported by Marketbeat. Among these analysts, two have issued sell ratings while five have rated the stock as a buy. The average price target for the next year stands at $16.40.

Several research firms have recently updated their ratings on Immuneering. According to a report by Weiss Ratings on October 8, they maintained a “sell (e+)” rating on the shares. Conversely, Needham & Company LLC raised their price target from $8.00 to $11.00 and assigned a buy rating on September 15. HC Wainwright reiterated a buy rating and set a price objective of $11.00 in a research note on September 30.

In a notable move, Oppenheimer increased its price target from $21.00 to $30.00 and provided an “outperform” rating on September 25. Similarly, Chardan Capital raised its price objective from $13.00 to $20.00 and issued a buy rating on September 26.

Recent Earnings and Insider Activity

Immuneering announced its quarterly earnings results on August 13, 2023, reporting earnings per share (EPS) of ($0.40), which matched analysts’ consensus estimates. Expectations for the current fiscal year predict an EPS of ($1.86).

In related news, Director Peter Feinberg acquired 7,500 shares of the stock on October 3, purchasing them at an average price of $6.67 per share. This transaction totaled $50,025.00 and increased his holdings to 156,766 shares, valued at approximately $1,045,629.22. This acquisition was disclosed in a filing with the Securities and Exchange Commission. Over the past three months, insiders have bought a total of 20,800 shares valued at $143,754, with insiders holding 22.90% of the company’s stock.

Institutional Investments

Institutional trading activity has also been noteworthy. Several hedge funds and institutional investors have recently acquired shares of Immuneering. For instance, Jane Street Group LLC purchased a new stake valued at $32,000 during the first quarter, while Future Financial Wealth Management LLC acquired a stake worth $35,000 in the third quarter.

Other institutional investors, such as Kingsview Wealth Management LLC and XTX Topco Ltd, made new investments of $47,000 and $90,000, respectively, during the second quarter. Additionally, Flower City Capital invested $108,000 in the same quarter. Institutional investors now own 67.65% of Immuneering’s stock.

Immuneering Corporation operates as a clinical-stage oncology company focused on developing medicines for a wide range of cancer patients. Its lead candidates include IMM-1-104, a dual-MEK inhibitor currently undergoing Phase 1/2a clinical trials for various cancers, including pancreatic and melanoma, and IMM-6-415, which is in the Investigational New Drug application process to treat solid tumors.