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Why is Immuneering Stock Up Today After Buy Ratings

Immuneering Corporation (IMRX) saw a positive trading session, closing at $2.07, up 3.50% from the previous close of $2.00. The stock opened at $2.01 and reached an intraday high of $2.18 before settling. The upward movement was supported by a reaffirmation of a "buy" rating from Needham & Company LLC, with a target price of $15.00, as reported on January 10th. This follows a similar "buy" rating from Chardan Capital with a $13.00 target price. Despite a previous downgrade by Morgan Stanley on December 13th, the stock has shown resilience, likely buoyed by positive sentiment on social media platforms. A Reddit post highlighted the stock's breakout above key moving averages due to FDA news, emphasizing its low float and potential for further gains.