Immunic, Inc. (NASDAQ:IMUX) Sees Significant Decline in Short Interest

Immunic, Inc. (NASDAQ:IMUX) was the recipient of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 1,336,756 shares, a drop of 83.9% from the April 15th total of 8,327,660 shares. Based on an average daily trading volume, of 417,520 shares, the short-interest ratio is presently 3.2 days. Currently, 11.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Simplify Asset Management Inc. acquired a new position in Immunic during the first quarter worth about $487,000. Seven Fleet Capital Management LP acquired a new stake in shares of Immunic in the 4th quarter valued at approximately $83,000. Connective Capital Management LLC bought a new stake in shares of Immunic during the 4th quarter valued at approximately $161,000. XTX Topco Ltd acquired a new position in Immunic during the 4th quarter worth approximately $120,000. Finally, Millennium Management LLC increased its position in Immunic by 544.6% during the 4th quarter. Millennium Management LLC now owns 3,419,299 shares of the company’s stock worth $1,825,000 after purchasing an additional 2,888,829 shares in the last quarter. Institutional investors own 51.82% of the company’s stock.

Immunic Price Performance

NASDAQ:IMUX traded down $0.09 during mid-day trading on Tuesday, reaching $11.91. The stock had a trading volume of 97,002 shares, compared to its average volume of 338,041. Immunic has a 12 month low of $5.06 and a 12 month high of $15.10. The stock has a market capitalization of $162.19 million, a PE ratio of -1.69 and a beta of 1.20. The stock has a 50-day simple moving average of $11.31 and a two-hundred day simple moving average of $8.52.

Immunic (NASDAQ:IMUX) last released its earnings results on Thursday, February 26th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.18). Equities analysts expect that Immunic will post -3.44 EPS for the current year.

Analyst Upgrades and Downgrades

IMUX has been the topic of several research reports. upgraded shares of Immunic to a “strong-buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen cut shares of Immunic from a “hold” rating to a “sell” rating in a research note on Sunday, April 19th. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective (up from $5.00) on shares of Immunic in a report on Thursday, April 30th. D. Boral Capital cut shares of Immunic from a “buy” rating to a “hold” rating in a report on Wednesday, April 15th. Finally, Guggenheim assumed coverage on shares of Immunic in a research report on Tuesday, March 24th. They issued a “buy” rating and a $70.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Immunic presently has an average rating of “Buy” and an average target price of $52.43.

About Immunic

Immunic, Inc is a clinical-stage biopharmaceutical company focused on developing novel oral therapies to treat chronic inflammatory and autoimmune diseases as well as certain cancers. The company’s research strategy centers on small-molecule immunology, aiming to offer targeted treatments with improved safety and tolerability profiles. By modulating key signaling pathways within the immune system, Immunic seeks to address underlying disease mechanisms and achieve durable therapeutic benefits for patients.

Immunic’s lead product candidate, vidofludimus calcium (IMU-838), is an oral selective dihydroorotate dehydrogenase (DHODH) inhibitor in Phase 2 clinical development for conditions including ulcerative colitis, Crohn’s disease and relapsing multiple sclerosis.