Immunic (NASDAQ:IMUX) Stock Dropped to Hold by Zacks Research

Immunic (NASDAQ:IMUX) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Several other research analysts have also weighed in on IMUX. Wall Street Zen lowered Immunic from a “hold” rating to a “sell” rating in a research report on Saturday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunic in a research note on Wednesday, August 26th. Roth Capital restated a “buy” rating on shares of Immunic in a research report on Tuesday, September 1st. Cantor Fitzgerald initiated coverage on Immunic in a research note on Friday, October 23rd. They issued an “overweight” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $22.00 price target on shares of Immunic in a report on Thursday, September 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.43.

Immunic Stock Up 1.0%

IMUX stock opened at $8.12 on Tuesday. The firm has a market cap of $110.79 million, a price-to-earnings ratio of -1.85 and a beta of 1.48. Immunic has a 12-month low of $5.06 and a 12-month high of $17.43. The company’s fifty day simple moving average is $8.93 and its 200 day simple moving average is $11.51.

Immunic (NASDAQ:IMUX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.36. Research analysts expect that Immunic will post -3.69 earnings per share for the current year.

Institutional Trading of Immunic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMUX. Braidwell LP acquired a new position in Immunic during the 2nd quarter worth approximately $9,914,000. Bank of America Corp DE boosted its holdings in Immunic by 80,724.2% in the first quarter. Bank of America Corp DE now owns 143,867 shares of the company’s stock worth $160,000 after acquiring an additional 143,689 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in Immunic in the first quarter worth approximately $187,000. Renaissance Technologies LLC acquired a new stake in Immunic in the first quarter valued at approximately $1,020,000. Finally, Avidity Partners Management LP raised its position in shares of Immunic by 42.6% during the first quarter. Avidity Partners Management LP now owns 6,699,411 shares of the company’s stock worth $7,436,000 after purchasing an additional 2,000,000 shares during the period. 51.82% of the stock is owned by institutional investors.

Immunic Company Profile

Immunic, Inc. (NASDAQ: IMUX) is a clinical-stage biopharmaceutical company developing orally administered therapies for chronic inflammatory and autoimmune diseases. The company focuses on treatments designed to address significant unmet needs while potentially offering convenient alternatives to injectable or infusion-based therapies. Immunic’s lead product candidate is vidofludimus calcium, formerly known as IMU-838. It is a selective oral inhibitor of dihydroorotate dehydrogenase (DHODH) being developed for multiple sclerosis, including relapsing and progressive forms of the disease.