Immuneering (NASDAQ:IMRX) Lowered to Underweight Rating by Morgan Stanley

Immuneering (NASDAQ:IMRX) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report issued on Friday,Briefing.com Automated Import reports.

Several other brokerages have also commented on IMRX. Chardan Capital reissued a “buy” rating and issued a $13.00 price objective on shares of Immuneering in a report on Wednesday, November 20th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Immuneering in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Immuneering has an average rating of “Hold” and an average target price of $12.80.

Immuneering Stock Down 7.9 %

NASDAQ:IMRX opened at $1.97 on Friday. Immuneering has a 52 week low of $1.00 and a 52 week high of $8.41. The stock’s 50-day moving average price is $2.07 and its 200-day moving average price is $1.68. The stock has a market capitalization of $61.17 million, a PE ratio of -1.00 and a beta of -0.33.

Institutional Trading of Immuneering

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Immuneering by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 1,203,666 shares of the company’s stock valued at $3,479,000 after acquiring an additional 129,851 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Immuneering in the second quarter valued at approximately $492,000. Renaissance Technologies LLC acquired a new stake in shares of Immuneering in the second quarter valued at approximately $447,000. Acadian Asset Management LLC purchased a new position in Immuneering during the second quarter worth approximately $67,000. Finally, HighTower Advisors LLC boosted its stake in Immuneering by 21.4% during the third quarter. HighTower Advisors LLC now owns 53,360 shares of the company’s stock worth $132,000 after buying an additional 9,400 shares during the last quarter. 67.65% of the stock is owned by institutional investors and hedge funds.

About Immuneering

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.