Immunic (NASDAQ:IMUX) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Immunic (NASDAQ:IMUX) from a hold rating to a sell rating in a report issued on Monday.

A number of other research firms have also recently commented on IMUX. Leerink Partners reissued an “outperform” rating and set a $5.00 price target on shares of Immunic in a report on Monday, September 9th. Leerink Partnrs raised shares of Immunic to a “strong-buy” rating in a report on Monday, September 9th. B. Riley began coverage on shares of Immunic in a report on Tuesday, August 27th. They set a “buy” rating and a $6.00 price target on the stock. EF Hutton Acquisition Co. I raised shares of Immunic to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Piper Sandler restated an “overweight” rating and set a $28.00 price objective on shares of Immunic in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $12.25.

Immunic Price Performance

Shares of NASDAQ:IMUX opened at $1.09 on Monday. The company’s 50 day simple moving average is $1.45 and its 200 day simple moving average is $1.35. Immunic has a 1 year low of $0.97 and a 1 year high of $2.11.

Insiders Place Their Bets

In related news, Director Richard Alan Rudick bought 87,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $1.15 per share, with a total value of $100,395.00. Following the completion of the purchase, the director now directly owns 87,300 shares in the company, valued at $100,395. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Immunic

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Immunic by 100.7% in the 1st quarter. Vanguard Group Inc. now owns 3,394,047 shares of the company’s stock valued at $4,480,000 after buying an additional 1,703,047 shares during the period. Janus Henderson Group PLC acquired a new stake in Immunic in the first quarter valued at approximately $9,266,000. Ikarian Capital LLC grew 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 period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Immunic by 70.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 102,257 shares of the company’s stock valued at $169,000 after acquiring an additional 42,383 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Immunic during the first quarter worth approximately $25,000. Institutional investors and hedge funds 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.