Immunic, Inc. $IMUX Shares Bought by Avidity Partners Management LP

Key Points

• Avidity Partners Management LP increased its Immunic stake by 42.6% in the first quarter, purchasing 2 million additional shares and bringing its holdings to 6.7 million shares, or about 49.2% of the company.
• Institutional ownership remains substantial at 51.82%, with several hedge funds—including Millennium Management, Laurion Capital, and Marshall Wace—also increasing their positions.
• Immunic reported a quarterly loss of $1.08 per share, missing estimates by $0.37. Despite mixed analyst opinions, the stock carries a consensus “Buy” rating and a $47.57 price target versus its recent $13.97 price.

Avidity Partners Management LP lifted its holdings in shares of Immunic, Inc. (NASDAQ:IMUX - Free Report) by 42.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,699,411 shares of the company's stock after purchasing an additional 2,000,000 shares during the quarter. Immunic comprises about 1.5% of Avidity Partners Management LP's holdings, making the stock its 14th biggest holding. Avidity Partners Management LP owned about 49.19% of Immunic worth $7,436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IMUX. Nantahala Capital Management LLC acquired a new position in shares of Immunic in the fourth quarter valued at approximately $2,337,000. Millennium Management LLC increased its position in shares of Immunic by 544.6% during the fourth quarter. Millennium Management LLC now owns 3,419,299 shares of the company's stock worth $1,825,000 after acquiring an additional 2,888,829 shares during the period. Laurion Capital Management LP increased its position in shares of Immunic by 106.3% during the fourth quarter. Laurion Capital Management LP now owns 3,882,162 shares of the company's stock worth $2,072,000 after acquiring an additional 2,000,000 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Immunic in the first quarter valued at $1,020,000. Finally, Marshall Wace LLP raised its stake in shares of Immunic by 91.2% in the fourth quarter. Marshall Wace LLP now owns 1,019,983 shares of the company's stock valued at $541,000 after acquiring an additional 486,468 shares in the last quarter. Hedge funds and other institutional investors own 51.82% of the company's stock.

Immunic Stock Performance

Shares of Immunic stock opened at $13.97 on Friday. The company has a market cap of $190.27 million, a P/E ratio of -2.50 and a beta of 1.37. The firm has a fifty day moving average of $14.29 and a two-hundred day moving average of $11.47. Immunic, Inc. has a one year low of $5.06 and a one year high of $15.84.

Immunic (NASDAQ:IMUX - Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.37). As a group, equities analysts predict that Immunic, Inc. will post -4.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on IMUX. Weiss Ratings reissued a "sell (d-)" rating on shares of Immunic in a research report on Friday, May 29th. B. Riley Financial decreased their price target on shares of Immunic from $40.00 to $27.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. Lifesci Capital upgraded shares of Immunic to a "strong-buy" rating in a research note on Monday, May 4th. Wall Street Zen downgraded Immunic from a "hold" rating to a "sell" rating in a report on Sunday, April 19th. Finally, D. Boral Capital lowered Immunic from a "buy" rating to a "hold" rating in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $47.57.

About Immunic

Immunic, Inc is a clinical-stage biopharmaceutical company focused on developing novel oral therapies to treat chronic inflammatory and autoimmune diseases as well as certain cancers. The company's research strategy centers on small-molecule immunology, aiming to offer targeted treatments with improved safety and tolerability profiles. By modulating key signaling pathways within the immune system, Immunic seeks to address underlying disease mechanisms and achieve durable therapeutic benefits for patients.

Immunic's lead product candidate, vidofludimus calcium (IMU-838), is an oral selective dihydroorotate dehydrogenase (DHODH) inhibitor in Phase 2 clinical development for conditions including ulcerative colitis, Crohn's disease and relapsing multiple sclerosis.

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