Immunic (NASDAQ:IMUX) Now Covered by Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage of Immunic with an “overweight” rating. The broader analyst consensus remains “Buy,” with an average price target of $35.43.
• Immunic shares opened at $7.22, well below their 50-day and 200-day moving averages of $11.23 and $12.52, respectively. The stock has traded between $5.06 and $17.43 over the past year.
• The clinical-stage biotechnology company is developing oral therapies for autoimmune and inflammatory diseases, led by vidofludimus calcium, which is being tested in multiple sclerosis trials. Institutional investors and hedge funds own 51.82% of the company.

Research analysts at Cantor Fitzgerald initiated coverage on shares of Immunic (NASDAQ:IMUX - Get Free Report) in a report released on Friday, Marketbeat.com reports. The brokerage set an "overweight" rating on the stock.

Several other analysts have also recently issued reports on IMUX. LADENBURG THALM/SH SH raised shares of Immunic to a "strong-buy" rating in a research report on Wednesday, July 29th. Wedbush reiterated an "outperform" rating and set a $45.00 target price on shares of Immunic in a report on Thursday, September 10th. Wall Street Zen cut shares of Immunic from a "hold" rating to a "sell" rating in a research report on Saturday, October 10th. Zacks Research upgraded shares of Immunic from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $22.00 price objective on shares of Immunic in a research report on Thursday, September 10th. Four research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $35.43.

Immunic Stock Performance

NASDAQ IMUX opened at $7.22 on Friday. The stock's fifty day moving average is $11.23 and its two-hundred day moving average is $12.52. The firm has a market capitalization of $98.48 million, a P/E ratio of -1.65 and a beta of 1.45. Immunic has a fifty-two week low of $5.06 and a fifty-two week high of $17.43.

Immunic (NASDAQ:IMUX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($1.16) by $0.36. As a group, sell-side analysts forecast that Immunic will post -3.71 EPS for the current year.

Institutional Inflows and Outflows

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

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