Immuneering Corporation (IMRX) is experiencing a significant surge in its stock price, climbing 35.95% to $3.29 as of 12:52 pm on September 20. The stock opened at $2.36 and has reached a high of $3.33, with a substantial trading volume of 13,873,782 shares, far exceeding its average daily volume of 5,722,333. This remarkable increase is largely attributed to a positive outlook from Morgan Stanley, which suggests that IMRX could rally more than 60% due to its promising narcolepsy treatment, ORX750. The recent Phase 1 results in healthy volunteers have removed significant uncertainties, positioning ORX750 as a potentially best-in-class treatment for narcolepsy type 1, with further potential in narcolepsy type 2 and idiopathic hypersomnia.
On Reddit, traders are actively discussing technical indicators, with one user highlighting an 81% win rate on a 15-minute chart as a potential buy signal. This technical analysis, combined with the optimistic forecast from Morgan Stanley, appears to be fueling investor enthusiasm and driving the stock's upward momentum.