Immunic, Inc. (NASDAQ:IMUX) Short Interest Update

Immunic, Inc. (NASDAQ:IMUX) was the recipient of a significant decline in short interest during 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 volume of 307,200 shares, the short-interest ratio is currently 7.6 days.

Hedge Funds Weigh In On Immunic

A number of hedge funds have recently modified their holdings of the company. Sierra Summit Advisors LLC bought a new stake in shares of Immunic during the 4th quarter valued at $487,000. Vanguard Group Inc. boosted its holdings in Immunic by 100.7% in the 1st quarter. Vanguard Group Inc. now owns 3,394,047 shares of the company’s stock worth $4,480,000 after buying an additional 1,703,047 shares during the period. BVF Inc. IL purchased a new stake in Immunic in the 1st quarter worth $11,752,000. Janus Henderson Group PLC bought a new stake in Immunic during the first quarter valued at about $9,266,000. Finally, Ikarian Capital LLC lifted its position in shares of 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 in the last quarter. 51.82% of the stock is currently owned by institutional investors.

Immunic Stock Performance

NASDAQ:IMUX opened at $1.79 on Thursday. The stock has a 50-day simple moving average of $1.43 and a two-hundred day simple moving average of $1.32. The firm has a market capitalization of $161.24 million, a PE ratio of -0.98 and a beta of 1.82. Immunic has a 52-week low of $0.95 and a 52-week high of $2.09.

Immunic (NASDAQ:IMUX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. During the same period in the previous year, the firm earned ($0.54) EPS. Equities analysts forecast that Immunic will post -0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. EF Hutton Acquisition Co. I upgraded shares of Immunic to a “strong-buy” rating in a report on Monday. Leerink Partners reissued an “outperform” rating and set a $5.00 price target on shares of Immunic in a report on Monday, September 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Immunic in a report on Tuesday, July 16th. Leerink Partnrs raised Immunic to a “strong-buy” rating in a report on Monday, September 9th. Finally, B. Riley initiated coverage on Immunic in a research report on Tuesday, August 27th. They issued a “buy” rating and a $6.00 target price on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $11.20.

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.