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

Key Points

• Wall Street Zen downgraded Immunic from “Hold” to “Sell,” although the broader analyst consensus remains “Buy” with an average price target of $35.43.
• Immunic shares opened at $8.19, well below their 50-day and 200-day moving averages of $12.60 and $12.80, respectively. The stock has traded between $5.06 and $17.43 over the past year.
• The clinical-stage biotech reported a quarterly loss of $0.80 per share, beating the consensus estimate of a $1.16 loss; hedge funds and other institutional investors own approximately 51.82% of the company.

Immunic (NASDAQ:IMUX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the stock. Wedbush restated an "outperform" rating and issued a $45.00 price objective on shares of Immunic in a report on Thursday, September 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunic in a research note on Wednesday, August 26th. Roth Capital reaffirmed a "buy" rating on shares of Immunic in a report on Tuesday, September 1st. 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, LADENBURG THALM/SH SH raised Immunic to a "strong-buy" rating in a report on Wednesday, July 29th. Three research 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $35.43.

Immunic Stock Performance

Shares of Immunic stock opened at $8.19 on Friday. The business has a 50-day simple moving average of $12.60 and a 200-day simple moving average of $12.80. Immunic has a one year low of $5.06 and a one year high of $17.43. The company has a market cap of $111.71 million, a PE ratio of -1.87 and a beta of 1.45.

Immunic (NASDAQ:IMUX - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.36. On average, sell-side analysts predict that Immunic will post -3.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunic

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CTC Alternative Strategies Ltd. acquired a new stake in shares of Immunic during the first quarter worth about $27,000. ADAR1 Capital Management LLC acquired a new position in Immunic in the 1st quarter valued at about $33,000. Seven Fleet Capital Management LP purchased a new stake in Immunic during the 4th quarter valued at approximately $83,000. Bank of America Corp DE raised its stake in Immunic by 80,724.2% during the 1st 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 last quarter. Finally, Connective Capital Management LLC acquired a new stake in Immunic during the 4th quarter worth approximately $161,000. 51.82% of the stock is owned by hedge funds and other institutional investors.

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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