Immunic (NASDAQ:IMUX) Stock Rated “Overweight” in New Coverage at Cantor Fitzgerald

Analysts at Cantor Fitzgerald began coverage on shares of Immunic (NASDAQ:IMUX) in a report issued on Friday, Marketbeat.com reports. The firm set an “overweight” rating on the stock.

A number of other research firms also recently weighed in on IMUX. Roth Capital restated a “buy” rating on shares of Immunic in a research note on Tuesday, September 1st. LADENBURG THALM/SH SH raised Immunic to a “strong-buy” rating in a report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunic in a research report on Wednesday, August 26th. Wall Street Zen downgraded shares of Immunic from a “hold” rating to a “sell” rating in a report on Saturday, October 10th. Finally, Zacks Research raised shares of Immunic from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $35.43.

Immunic Price Performance

Shares of NASDAQ IMUX opened at $7.22 on Friday. The stock has a fifty day moving average price of $11.23 and a 200 day moving average price of $12.52. Immunic has a 1-year low of $5.06 and a 1-year high of $17.43. The company has a market cap of $98.48 million, a PE ratio of -1.65 and a beta of 1.45.

Immunic (NASDAQ:IMUX) last issued its quarterly 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. Analysts anticipate that Immunic will post -3.71 earnings per share for the current fiscal year.

Institutional Trading of Immunic

Several institutional investors and hedge funds have recently made changes to their positions in IMUX. Braidwell LP acquired a new stake in shares of Immunic during the second quarter valued at $9,914,000. Avidity Partners Management LP raised its stake in Immunic by 42.6% in the 1st quarter. Avidity Partners Management LP now owns 6,699,411 shares of the company’s stock valued at $7,436,000 after purchasing an additional 2,000,000 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new position in Immunic in the 1st quarter valued at about $27,000. Bank of America Corp DE lifted its holdings in Immunic by 80,724.2% in the 1st quarter. Bank of America Corp DE now owns 143,867 shares of the company’s stock valued at $160,000 after purchasing an additional 143,689 shares in the last quarter. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Immunic during the 1st quarter worth about $33,000. 51.82% of the stock is currently owned by hedge funds and other institutional investors.

Immunic Company Profile

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.