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

Immunic, Inc. (NASDAQ:IMUX) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 4,250,000 shares, a growth of 55.7% from the May 15th total of 2,730,000 shares. Based on an average daily trading volume, of 1,350,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 4.9% of the shares of the company are short sold.

Immunic Price Performance

Shares of IMUX stock traded up $0.02 on Monday, hitting $0.82. 670,798 shares of the stock traded hands, compared to its average volume of 885,361. Immunic has a 52 week low of $0.56 and a 52 week high of $2.11. The firm has a 50 day simple moving average of $0.95 and a two-hundred day simple moving average of $1.04. The firm has a market cap of $78.62 million, a price-to-earnings ratio of -0.67 and a beta of 1.48.

Immunic (NASDAQ:IMUX) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.25) EPS for the quarter, meeting analysts’ consensus estimates of ($0.25). Sell-side analysts forecast that Immunic will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IMUX. Invesco Ltd. purchased a new position in shares of Immunic in the fourth quarter worth $37,000. Barclays PLC purchased a new stake in Immunic in the 4th quarter worth $84,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Immunic by 90.0% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,579 shares of the company’s stock valued at $205,000 after purchasing an additional 96,894 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Immunic by 11.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 215,000 shares of the company’s stock valued at $215,000 after purchasing an additional 22,200 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Immunic by 279.3% in the first quarter. Jane Street Group LLC now owns 207,401 shares of the company’s stock worth $226,000 after purchasing an additional 152,726 shares during the last quarter. 51.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IMUX has been the subject of a number of research reports. William Blair reiterated an “outperform” rating on shares of Immunic in a research report on Friday, May 16th. Wall Street Zen cut shares of Immunic from a “hold” rating to a “sell” rating in a research note on Thursday, March 20th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Immunic in a report on Thursday, May 1st. B. Riley reaffirmed a “buy” rating and set a $5.00 target price (down from $6.00) on shares of Immunic in a report on Friday, May 23rd. Finally, D. Boral Capital reiterated a “buy” rating and set a $10.00 price target on shares of Immunic in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Immunic has a consensus rating of “Buy” and an average target price of $11.60.

About Immunic

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.