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

Immunic, Inc. (NASDAQ:IMUX) saw 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 days-to-cover ratio is currently 7.6 days.

Immunic Trading Up 11.2 %

Shares of NASDAQ:IMUX opened at $1.79 on Thursday. The stock has a fifty day simple moving average of $1.43 and a two-hundred day simple moving average of $1.32. Immunic has a 12-month low of $0.95 and a 12-month high of $2.09. The stock has a market capitalization of $161.24 million, a price-to-earnings ratio of -0.98 and a beta of 1.82.

Immunic (NASDAQ:IMUX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.21) earnings per share (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) earnings per share. As a group, equities research analysts predict that Immunic will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on IMUX. Leerink Partnrs upgraded shares of Immunic to a “strong-buy” rating in a report on Monday, September 9th. Piper Sandler restated an “overweight” rating and set a $28.00 price target on shares of Immunic in a research report on Tuesday, July 16th. StockNews.com upgraded Immunic from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. B. Riley initiated coverage on Immunic in a research report on Tuesday, August 27th. They set a “buy” rating and a $6.00 price objective for the company. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Immunic in a research report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $11.20.

Institutional Investors Weigh In On Immunic

A number of institutional investors have recently made changes to their positions in IMUX. BVF Inc. IL purchased a new position in Immunic in the 1st quarter worth approximately $11,752,000. Janus Henderson Group PLC bought a new stake in shares of Immunic in the 1st quarter worth $9,266,000. Vanguard Group Inc. raised its stake in shares of Immunic by 100.7% in the first quarter. Vanguard Group Inc. now owns 3,394,047 shares of the company’s stock worth $4,480,000 after purchasing an additional 1,703,047 shares during the last quarter. Ikarian Capital LLC lifted its holdings in shares of Immunic by 258.3% during the first quarter. Ikarian Capital LLC now owns 1,612,378 shares of the company’s stock valued at $2,128,000 after purchasing an additional 1,162,378 shares in the last quarter. Finally, Sierra Summit Advisors LLC bought a new position in shares of Immunic during the fourth quarter valued at $487,000. Hedge funds and other institutional investors own 51.82% of the company’s stock.

About Immunic

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.