Immunic (NASDAQ:IMUX) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Immunic (NASDAQ:IMUX) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

IMUX has been the topic of several other reports. LADENBURG THALM/SH SH upgraded Immunic to a “strong-buy” rating in a research note on Wednesday, July 29th. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Immunic in a research report on Thursday, September 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunic in a research report on Wednesday, August 26th. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Immunic in a research note on Thursday, September 10th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Immunic in a report on Tuesday, September 1st. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Immunic has a consensus rating of “Buy” and an average target price of $35.43.

Immunic Stock Performance

Shares of IMUX stock opened at $8.19 on Friday. The stock has a market capitalization of $111.71 million, a P/E ratio of -1.87 and a beta of 1.45. The company has a 50 day moving average price of $12.60 and a 200 day moving average price of $12.80. Immunic has a fifty-two week low of $5.06 and a fifty-two week high of $17.43.

Immunic (NASDAQ:IMUX) last released its earnings results on Tuesday, August 11th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.36. On average, research analysts forecast that Immunic will post -3.71 EPS for the current fiscal year.

Institutional Trading of Immunic

Several institutional investors have recently modified their holdings of IMUX. Braidwell LP acquired a new stake in Immunic during the 2nd quarter worth $9,914,000. Bank of America Corp DE grew its holdings in shares of Immunic by 80,724.2% during the first quarter. Bank of America Corp DE now owns 143,867 shares of the company’s stock worth $160,000 after buying an additional 143,689 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Immunic in the 1st quarter valued at approximately $187,000. Renaissance Technologies LLC acquired a new position in Immunic in the 1st quarter valued at $1,020,000. Finally, Avidity Partners Management LP increased its stake 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 acquiring an additional 2,000,000 shares during the period. Hedge funds and other institutional investors own 51.82% of the company’s stock.

About Immunic

Immunic, Inc is a clinical-stage biotechnology company developing orally administered therapies for chronic inflammatory and autoimmune diseases. The company focuses on selectively modulating the immune system while seeking to avoid broad immunosuppression, with an emphasis on conditions affecting the central nervous system and gastrointestinal tract.

Immunic’s lead investigational product is vidofludimus calcium, formerly known as IMU-838. The oral, selective dihydroorotate dehydrogenase inhibitor is being studied in clinical trials for multiple sclerosis, including relapsing and progressive forms of the disease.