Immunic, Inc. $IMUX Shares Sold by State Street Corp

Key Points

• State Street Corp cut its Immunic stake by 89.2% in the second quarter, selling 504,386 shares and retaining 61,259 shares valued at approximately $942,000. Institutional investors collectively own 51.82% of IMUX.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $47.25, despite mixed individual ratings.
• IMUX opened at $9.35, well below its 50-day and 200-day moving averages. Immunic reported a quarterly loss of $0.80 per share, which was better than the $1.16 loss analysts expected.

State Street Corp decreased its holdings in shares of Immunic, Inc. (NASDAQ:IMUX - Free Report) by 89.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,259 shares of the company's stock after selling 504,386 shares during the quarter. State Street Corp owned 0.45% of Immunic worth $942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IMUX. Avidity Partners Management LP lifted its stake in 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 purchasing an additional 2,000,000 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Immunic in the 1st quarter valued at $1,020,000. Braidwell LP acquired a new stake in shares of Immunic during the 2nd quarter valued at $9,914,000. Simplify Asset Management Inc. bought a new stake in Immunic during the 1st quarter worth $487,000. Finally, Connective Capital Management LLC bought a new stake in Immunic during the 4th quarter worth $161,000. Institutional investors own 51.82% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on IMUX shares. HC Wainwright reissued a "buy" rating and set a $22.00 price target on shares of Immunic in a research note on Thursday, September 10th. Roth Capital reiterated a "buy" rating on shares of Immunic in a report on Tuesday, September 1st. Wall Street Zen raised shares of Immunic from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. LADENBURG THALM/SH SH upgraded Immunic to a "strong-buy" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunic in a research report on Wednesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $47.25.

Immunic Stock Up 0.3%

Shares of IMUX stock opened at $9.35 on Friday. The firm has a 50 day moving average of $13.75 and a 200-day moving average of $13.07. The company has a market cap of $127.57 million, a price-to-earnings ratio of -2.13 and a beta of 1.41. Immunic, Inc. has a 52 week low of $5.06 and a 52 week high of $17.43.

Immunic (NASDAQ:IMUX - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.36. Analysts anticipate that Immunic, Inc. will post -3.71 earnings per share for the current year.

About Immunic

Immunic, Inc NASDAQ: IMUX is a clinical-stage biopharmaceutical company focused on developing orally administered therapies for chronic inflammatory and neurodegenerative diseases. The company's research programs are designed to address conditions affecting the immune system and central nervous system, including multiple sclerosis and selected gastrointestinal disorders.

Immunic's lead investigational product is vidofludimus calcium, also known as IMU-838, a selective oral inhibitor of the enzyme dihydroorotate dehydrogenase.

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