Immunic, Inc. (NASDAQ:IMUX) Sees Large Decrease in Short Interest

Immunic, Inc. (NASDAQ:IMUX) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,330,000 shares, a decline of 7.5% from the August 15th total of 2,520,000 shares. Based on an average daily trading volume, of 307,200 shares, the short-interest ratio is currently 7.6 days.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Leerink Partnrs raised shares of Immunic to a “strong-buy” rating in a research report on Monday, September 9th. EF Hutton Acquisition Co. I raised Immunic to a “strong-buy” rating in a research note on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price target on shares of Immunic in a research note on Tuesday, July 16th. StockNews.com raised Immunic from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, B. Riley started coverage on Immunic in a report on Tuesday, August 27th. They set a “buy” rating and a $6.00 price target for the company. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Immunic currently has a consensus rating of “Buy” and an average price target of $11.20.

Immunic Stock Performance

Shares of IMUX stock traded up $0.20 during mid-day trading on Wednesday, hitting $1.81. 2,546,144 shares of the stock were exchanged, compared to its average volume of 541,686. The stock’s fifty day simple moving average is $1.42 and its two-hundred day simple moving average is $1.32. The stock has a market capitalization of $163.03 million, a price-to-earnings ratio of -1.01 and a beta of 1.82. Immunic has a 12-month low of $0.95 and a 12-month high of $2.09.

Immunic (NASDAQ:IMUX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.02. During the same period in the previous year, the business posted ($0.54) EPS. On average, research analysts expect that Immunic will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in Immunic in the first quarter worth approximately $25,000. Sierra Summit Advisors LLC acquired a new stake in shares of Immunic during the 4th quarter worth approximately $487,000. Ikarian Capital LLC boosted its stake in Immunic by 258.3% in the first quarter. Ikarian Capital LLC now owns 1,612,378 shares of the company’s stock valued at $2,128,000 after acquiring an additional 1,162,378 shares during the last quarter. Vanguard Group Inc. grew its holdings in Immunic by 100.7% during the 1st quarter. Vanguard Group Inc. now owns 3,394,047 shares of the company’s stock worth $4,480,000 after acquiring an additional 1,703,047 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in shares of Immunic in the 1st quarter valued at $9,266,000. Institutional investors and hedge funds own 51.82% of the company’s stock.

Immunic Company Profile

Immunic, Inc, a biotechnology company, develops a pipeline of selective oral immunology therapies for the treatment of chronic inflammatory and autoimmune diseases in the United States and Germany. Its lead development program is IMU-838, which is in Phase 3 clinical trial, for treatment of multiple sclerosis, including relapsing and progressive multiple sclerosis; and moderate-to-severe ulcerative colitis.