Immuneering Co. (NASDAQ:IMRX) Short Interest Report

Immuneering Co. (NASDAQ:IMRX) has seen a notable rise in short interest throughout December. As of December 15th, the total short interest reached 2,290,000 shares, marking a substantial increase of 41.4% from the end of November, when it stood at 1,620,000 shares. This means that approximately 10.2% of the company's outstanding stock is currently sold short. Given an average daily trading volume of 1,160,000 shares, the current days-to-cover ratio is 2.0 days.

Recent Analyst Ratings

Several analysts have recently updated their ratings on Immuneering shares. On November 14th, Needham & Company LLC reaffirmed a "buy" rating with a price target of $15.00. However, on December 13th, Morgan Stanley downgraded the stock from "equal weight" to "underweight." Additionally, on November 20th, Chardan Capital also maintained a "buy" rating, setting a price objective of $13.00. Overall, the consensus from various analysts shows that while one has a sell rating, three are holding, and four have issued buy ratings. MarketBeat data indicates that the stock has an average consensus rating of "Hold" with a price target of $12.80.

Latest Stock Movement of Immuneering

During midday trading on a recent Monday, shares of NASDAQ:IMRX fell by $0.08, bringing the stock to a value of $2.25. The trading volume reached 320,437 shares, which is less than the average volume of 2,079,917 shares. Over the past year, Immuneering's stock has seen a low point of $1.00 and a high of $7.68. The company currently has a market capitalization of $69.86 million, with a P/E ratio of -1.14 and a beta of -0.33. The fifty-day moving average stands at $2.01, while the 200-day moving average is at $1.73.

Institutional Investments in Immuneering

A variety of institutional investors have made recent moves regarding IMRX stock. Vontobel Holding Ltd. purchased a new stake in Immuneering during the third quarter, worth about $25,000. Similarly, Corsair Capital Management L.P. also acquired a new stake valued at $25,000 in the same quarter. Point72 Asia Singapore Pte. Ltd. invested $44,000 during the second quarter. Additionally, XTX Topco Ltd. increased their holdings by 37.3%, bringing their total to 34,159 shares worth $44,000 after acquiring an extra 9,274 shares. Lastly, Acadian Asset Management LLC obtained a new stake worth $67,000 in the second quarter. Overall, institutional investors hold 67.65% of Immuneering's stock.

About Immuneering

Immuneering Corporation is a clinical-stage oncology company focused on developing therapies for cancer patients. Its main product candidates include IMM-1-104, a dual-MEK inhibitor that is currently in Phase 1/2a clinical trials targeting various cancers, such as pancreatic, melanoma, colorectal, and non-small cell lung cancers related to RAS and/or RAF mutations. Another product, IMM-6-415, is in the Investigational New Drug application stage intended for treating solid tumors.

Immuneering, Stocks, ShortInterest