Short Interest in Immunic, Inc. (NASDAQ:IMUX) Drops By 7.5%

Immunic, Inc. (NASDAQ:IMUX) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,330,000 shares, a drop 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 presently 7.6 days.

Immunic Stock Up 12.4 %

Immunic stock traded up $0.20 during mid-day trading on Wednesday, reaching $1.81. 2,546,144 shares of the company’s stock were exchanged, compared to its average volume of 541,686. The business’s fifty day simple moving average is $1.42 and its 200 day simple moving average is $1.32. Immunic has a one year low of $0.95 and a one year high of $2.09. The firm has a market capitalization of $163.03 million, a PE ratio of -1.01 and a beta of 1.82.

Immunic (NASDAQ:IMUX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. During the same quarter in the previous year, the company earned ($0.54) earnings per share. On average, sell-side analysts forecast that Immunic will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

IMUX has been the topic of several analyst reports. B. Riley initiated coverage on Immunic in a report on Tuesday, August 27th. They set a “buy” rating and a $6.00 target price on the stock. EF Hutton Acquisition Co. I upgraded shares of Immunic to a “strong-buy” rating in a research report on Monday. Leerink Partnrs upgraded shares of Immunic to a “strong-buy” rating in a research report on Monday, September 9th. Leerink Partners reissued an “outperform” rating and set a $5.00 price target on shares of Immunic in a report on Monday, September 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $28.00 target price on shares of Immunic in a research report on Tuesday, July 16th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $11.20.

Institutional Investors Weigh In On Immunic

Large investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in shares of Immunic in the first quarter valued at approximately $25,000. Ikarian Capital LLC lifted its position in shares of Immunic by 258.3% in the 1st quarter. Ikarian Capital LLC now owns 1,612,378 shares of the company’s stock worth $2,128,000 after purchasing an additional 1,162,378 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Immunic during the first quarter valued at about $9,266,000. BVF Inc. IL purchased a new position in shares of Immunic during the first quarter valued at about $11,752,000. Finally, Vanguard Group Inc. raised its stake in 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 buying an additional 1,703,047 shares in the last quarter. Hedge funds and other institutional investors 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.