Chardan Capital Initiates Coverage on Immunic (NASDAQ:IMUX)

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.

Investment analysts at Chardan Capital initiated coverage on shares of Immunic (NASDAQ:IMUX - Get Free Report) in a report released on Monday,Benzinga reports. The firm set a "buy" rating and a $3.00 price target on the stock. Chardan Capital's price target would suggest a potential upside of 219.45% from the company's previous close.

Several other research firms have also recently commented on IMUX. D. Boral Capital reiterated a "buy" rating and set a $10.00 target price on shares of Immunic in a research note on Thursday. HC Wainwright reiterated a "buy" rating and issued a $10.00 target price on shares of Immunic in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Immunic has an average rating of "Buy" and a consensus price target of $7.00.

Immunic Trading Up 4.5%

NASDAQ:IMUX opened at $0.94 on Monday. Immunic has a 12-month low of $0.56 and a 12-month high of $1.73. The company's 50-day moving average is $0.90 and its two-hundred day moving average is $0.92. The firm has a market cap of $92.64 million, a price-to-earnings ratio of -1.00 and a beta of 1.44.

Immunic (NASDAQ:IMUX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.02). On average, equities research analysts forecast that Immunic will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Aberdeen Group plc increased its position 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 during the period. Focus Partners Wealth boosted its stake in Immunic by 19.1% in the 1st quarter. Focus Partners Wealth now owns 2,583,457 shares of the company's stock valued at $2,816,000 after buying an additional 415,104 shares in the last quarter. 683 Capital Management LLC boosted its stake in Immunic by 28.6% in the 1st quarter. 683 Capital Management LLC now owns 900,000 shares of the company's stock valued at $981,000 after buying an additional 200,000 shares in the last quarter. Millennium Management LLC boosted its stake in 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. Finally, Jane Street Group LLC boosted its stake in Immunic by 279.3% in the first quarter. Jane Street Group LLC now owns 207,401 shares of the company's stock worth $226,000 after purchasing an additional 152,726 shares in the last quarter. 51.82% of the stock is owned by institutional investors.

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.

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