Needham slashes price target on Immuneering Corp [IMRX] – find out why.

Immuneering Corp [NASDAQ: IMRX] jumped around 0.65 points on Monday, while shares priced at $2.56 at the close of the session, up 34.03%.

Compared to the average trading volume of 222.36K shares, IMRX reached a trading volume of 13766710 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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What do top market gurus say about Immuneering Corp [IMRX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IMRX shares is $15.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IMRX stock is a recommendation set at 1.89. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Immuneering Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 15, 2024. The new note on the price target was released on March 15, 2024, representing the official price target for Immuneering Corp stock. Previously, the target price had yet another drop from $16 to $3, while Jefferies kept a Hold rating on IMRX stock.

The Average True Range (ATR) for Immuneering Corp is set at 0.73 The Price to Book ratio for the last quarter was 0.83, with the Price to Cash per share for the same quarter was set at 2.93.

How has IMRX stock performed recently?

Immuneering Corp [IMRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -56.87. With this latest performance, IMRX shares dropped by -61.79% in over the last four-week period, additionally sinking by -68.20% over the last 6 months – not to mention a drop of -67.51% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IMRX stock in for the last two-week period is set at 24.27, with the RSI for the last a single of trading hit 21.13, and the three-weeks RSI is set at 28.02 for Immuneering Corp [IMRX]. The present Moving Average for the last 50 days of trading for this stock 6.0000, while it was recorded at 3.8200 for the last single week of trading, and 7.6400 for the last 200 days.

Immuneering Corp [IMRX]: Deeper insight into the fundamentals

Immuneering Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.35 and a Current Ratio set at 11.35.

Insider trade positions for Immuneering Corp [IMRX]

The top three institutional holders of IMRX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IMRX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IMRX stock with ownership which is approximately 5.8325%.