Immunic (NASDAQ:IMUX) Coverage Initiated at Chardan Capital

Key Points

• Chardan Capital has initiated coverage on Immunic (NASDAQ:IMUX) with a strong "buy" rating and a price target of $3.00, indicating a potential upside of 219.45% from its previous close.
• Other research firms have also rated Immunic as a "buy", with an average price target of $7.00 according to MarketBeat, highlighting positive consensus among analysts.
• Immunic's stock has experienced significant interest from institutional investors, with a notable increase in positions from firms such as Aberdeen Group and Millennium Management.

Research analysts at Chardan Capital initiated coverage on shares of Immunic (NASDAQ:IMUX - Get Free Report) in a report issued on Monday, MarketBeat reports. The brokerage set a "buy" rating and a $13.00 price target on the stock.

IMUX has been the subject of a number of other research reports. HC Wainwright reiterated a "buy" rating and set a $10.00 price objective on shares of Immunic in a research report on Friday. D. Boral Capital reissued a "buy" rating and issued a $10.00 price objective on shares of Immunic in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Immunic currently has a consensus rating of "Buy" and an average target price of $7.00.

Immunic Stock Up 5.4%

Shares of IMUX traded up $0.05 during mid-day trading on Monday, reaching $0.99. 1,299,559 shares of the company's stock were exchanged, compared to its average volume of 1,256,530. Immunic has a 52-week low of $0.56 and a 52-week high of $1.73. The company has a market cap of $97.66 million, a price-to-earnings ratio of -1.05 and a beta of 1.44. The company has a 50-day simple moving average of $0.90 and a two-hundred day simple moving average of $0.92.

Immunic (NASDAQ:IMUX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.02). As a group, equities research analysts predict that Immunic will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunic

A number of hedge funds have recently added to or reduced their stakes in IMUX. Aberdeen Group plc grew its holdings in Immunic by 678.1% in the 2nd quarter. Aberdeen Group plc now owns 8,243,941 shares of the company's stock worth $5,750,000 after buying an additional 7,184,457 shares in the last quarter. Millennium Management LLC grew its stake in shares of Immunic by 480.6% in the fourth quarter. Millennium Management LLC now owns 579,683 shares of the company's stock worth $580,000 after purchasing an additional 479,846 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Immunic by 19.1% during the first quarter. Focus Partners Wealth now owns 2,583,457 shares of the company's stock valued at $2,816,000 after purchasing an additional 415,104 shares during the period. 683 Capital Management LLC raised its stake in shares of Immunic by 28.6% during the first quarter. 683 Capital Management LLC now owns 900,000 shares of the company's stock valued at $981,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Immunic by 279.3% during the 1st quarter. Jane Street Group LLC now owns 207,401 shares of the company's stock valued at $226,000 after buying an additional 152,726 shares during the period. Institutional investors and hedge funds own 51.82% of the company's stock.

Immunic Company Profile

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.