Yahoo Finance Immuneering Corporation (IMRX) Soars 16.9%: Is Further Upside Left in the Stock?
Immuneering Corporation IMRX shares ended the last trading session 16.9% higher at $10.24. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 86.8% gain over the past four weeks.
The rise in Immuneering Corporation's stock price is attributable to positive investor sentiments on the company's pipeline development which is focused on developing a universal-RAS therapy targeting cancer indications. The company is evaluating its lead candidate IMM-1-104 in a Phase I/IIa study in patients with advanced solid tumors harboring RAS mutations.
This company is expected to post quarterly loss of $0.54 per share in its upcoming report, which represents a year-over-year change of -10.2%. Revenues are expected to be $0.15 million, down 16.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Immuneering Corporation, the consensus EPS estimate for the quarter has been revised 13.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on IMRX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Immuneering Corporation is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Arcturus Therapeutics (ARCT), finished the last trading session 4.4% lower at $14.72. ARCT has returned -11.9% over the past month.
Arcturus Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.86. Compared to the company's year-ago EPS, this represents a change of -26.5%. Arcturus Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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