Short Interest in Immunic, Inc. (NASDAQ:IMUX) Declines By 32.0%

Immunic, Inc. (NASDAQ:IMUX) was the recipient of a large decrease in short interest in February. As of February 15th, there was short interest totalling 2,550,000 shares, a decrease of 32.0% from the January 31st total of 3,750,000 shares. Based on an average daily trading volume, of 933,800 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors Weigh In On Immunic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC raised its holdings in shares of Immunic by 121.4% in the third quarter. Jane Street Group LLC now owns 70,299 shares of the company’s stock worth $116,000 after buying an additional 38,553 shares during the last quarter. HB Wealth Management LLC purchased a new position in shares of Immunic in the fourth quarter worth $81,000. State Street Corp raised its holdings in shares of Immunic by 7.5% in the third quarter. State Street Corp now owns 167,145 shares of the company’s stock worth $276,000 after buying an additional 11,642 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Immunic by 70.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 102,257 shares of the company’s stock worth $169,000 after buying an additional 42,383 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Immunic in the third quarter worth $50,000. Hedge funds and other institutional investors own 51.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Immunic in a report on Friday, February 21st. D. Boral Capital restated a “buy” rating and issued a $17.00 target price on shares of Immunic in a research note on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Immunic from a “hold” rating to a “sell” rating in a research note on Saturday, February 22nd. One analyst has rated the stock with a sell rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Immunic currently has an average rating of “Buy” and a consensus target price of $12.67.

Immunic Stock Performance

NASDAQ:IMUX traded up $0.01 during midday trading on Tuesday, reaching $1.17. 725,342 shares of the stock traded hands, compared to its average volume of 994,645. Immunic has a 12-month low of $0.92 and a 12-month high of $2.11. The business has a 50-day moving average of $1.04 and a two-hundred day moving average of $1.25. The stock has a market capitalization of $105.39 million, a PE ratio of -0.95 and a beta of 1.87.

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.