Insider Buying: Immuneering Co. (NASDAQ:IMRX) Director Acquires 25,000 Shares of Stock

Immuneering Co. (NASDAQ:IMRX) Director Peter Feinberg bought 25,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were purchased at an average cost of $2.55 per share, with a total value of $63,750.00. Following the transaction, the director now directly owns 111,766 shares in the company, valued at approximately $285,003.30. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Immuneering Stock Up 1.7 %

IMRX stock opened at $2.43 on Thursday. Immuneering Co. has a fifty-two week low of $1.90 and a fifty-two week high of $14.29. The stock’s 50 day simple moving average is $5.48 and its 200 day simple moving average is $6.36.

Immuneering (NASDAQ:IMRX) last issued its earnings results on Friday, March 1st. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.06). On average, sell-side analysts expect that Immuneering Co. will post -1.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IMRX. JPMorgan Chase & Co. lifted its position in Immuneering by 119.5% in the 1st quarter. JPMorgan Chase & Co. now owns 11,969 shares of the company’s stock valued at $78,000 after acquiring an additional 6,515 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Immuneering by 102.9% in the first quarter. Bank of New York Mellon Corp now owns 48,431 shares of the company’s stock worth $314,000 after purchasing an additional 24,556 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Immuneering in the first quarter valued at approximately $89,000. BlackRock Inc. raised its position in Immuneering by 23.7% in the 1st quarter. BlackRock Inc. now owns 2,123,374 shares of the company’s stock valued at $13,739,000 after buying an additional 407,204 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Immuneering by 158.8% during the 1st quarter. Vanguard Group Inc. now owns 812,392 shares of the company’s stock valued at $5,256,000 after acquiring an additional 498,479 shares in the last quarter. 67.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IMRX. Chardan Capital decreased their price objective on shares of Immuneering from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Needham & Company LLC lowered their price objective on Immuneering from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Jefferies Financial Group restated a “hold” rating and set a $3.00 target price (down previously from $16.00) on shares of Immuneering in a research report on Friday, March 15th. TD Cowen reiterated a “market perform” rating on shares of Immuneering in a report on Friday, March 15th. Finally, Oppenheimer restated an “outperform” rating and set a $25.00 price target on shares of Immuneering in a report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

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.