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

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Immunic, Inc. (NASDAQ:IMUX) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,060,000 shares, a growth of 38.0% from the September 15th total of 768,100 shares. Based on an average daily volume of 637,000 shares, the short-interest ratio is currently 1.7 days.

Shares of NASDAQ IMUX traded up $0.41 during mid-day trading on Friday, hitting $19.11. 183,583 shares of the stock traded hands, compared to its average volume of 330,691. Immunic has a 52 week low of $4.19 and a 52 week high of $23.39. The company has a market cap of $286.04 million, a price-to-earnings ratio of -6.22 and a beta of 2.70. The stock has a fifty day moving average price of $17.22 and a 200-day moving average price of $13.54.

Immunic (NASDAQ:IMUX) last released its quarterly earnings results on Sunday, August 2nd. The company reported ($0.90) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.28). Analysts forecast that Immunic will post -2.65 EPS for the current fiscal year.

A number of brokerages have commented on IMUX. Wedbush reaffirmed a “buy” rating and issued a $58.00 price target on shares of Immunic in a research note on Monday, July 27th. Piper Sandler started coverage on Immunic in a research note on Tuesday, August 25th. They set an “overweight” rating and a $71.00 target price on the stock. BMO Capital Markets boosted their target price on Immunic from $40.00 to $61.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. HC Wainwright reissued a “buy” rating and set a $56.00 target price on shares of Immunic in a research note on Monday, September 14th. Finally, ValuEngine cut Immunic from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 15th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Immunic has a consensus rating of “Buy” and an average price target of $53.00.

In other Immunic news, CEO Daniel Vitt sold 6,300 shares of Immunic stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $14.68, for a total value of $92,484.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Manfred Groeppel sold 5,650 shares of Immunic stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $14.58, for a total value of $82,377.00. The disclosure for this sale can be found here. 12.07% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMUX. Granite Point Capital Management L.P. bought a new stake in Immunic in the second quarter worth $2,400,000. Point72 Asset Management L.P. bought a new stake in Immunic in the second quarter worth $2,121,000. FMR LLC bought a new stake in Immunic in the second quarter worth $1,663,000. Hudson Bay Capital Management LP bought a new stake in Immunic in the second quarter worth $1,491,000. Finally, International Biotechnology Trust PLC bought a new stake in Immunic in the second quarter worth $1,531,000. Institutional investors own 28.12% of the company’s stock.

Immunic Company Profile

Immunic, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of selective oral immunology therapies for the treatment of chronic inflammatory and autoimmune diseases, including relapsing-remitting multiple sclerosis, ulcerative colitis, Crohn's disease, and psoriasis. Its lead development program is IMU-838, a selective immune modulator that inhibits the intracellular metabolism of activated immune cells by blocking the enzyme dihydroorotate dehydrogenase, which is in Phase 2 clinical development for treatment of ulcerative colitis and relapsing-remitting multiple sclerosis, as well as in Phase 2 trial to treat Crohn's disease.

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