Immunic (NASDAQ:IMUX) Trading Down 3.6% - Should You Sell?

Key Points

• Immunic's stock fell by 3.6% during midday trading, reaching a low of $1.06, with an increase in trading volume to approximately 1.28 million shares.
• Analysts maintain a mixed outlook on Immunic, with a consensus rating of “Buy” and a price target averaging $7.50, despite some analysts adjusting their price targets downwards.
• Immunic is developing therapies for chronic inflammatory diseases, with its lead program IMU-838 currently in Phase 3 clinical trials for multiple sclerosis and ulcerative colitis.

Immunic, Inc. (NASDAQ:IMUX - Get Free Report)'s share price was down 3.6% on Monday . The company traded as low as $1.06 and last traded at $1.08. Approximately 1,282,694 shares changed hands during trading, an increase of 20% from the average daily volume of 1,067,219 shares. The stock had previously closed at $1.12.

Analyst Ratings Changes

Several analysts recently commented on IMUX shares. D. Boral Capital restated a "buy" rating and issued a $10.00 target price on shares of Immunic in a research report on Wednesday, June 25th. B. Riley reiterated a "buy" rating and issued a $5.00 price objective (down from $6.00) on shares of Immunic in a research note on Friday, May 23rd. William Blair reiterated an "outperform" rating on shares of Immunic in a research note on Friday, May 16th. Finally, HC Wainwright restated a "buy" rating and issued a $10.00 price objective on shares of Immunic in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $7.50.

Immunic Price Performance

The firm's fifty day moving average price is $0.83 and its 200-day moving average price is $0.97. The company has a market capitalization of $89.11 million, a price-to-earnings ratio of -0.76 and a beta of 1.49.

Immunic (NASDAQ:IMUX - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.25) earnings per share for the quarter, meeting the consensus estimate of ($0.25). On average, research analysts predict that Immunic, Inc. will post -0.94 earnings per share for the current year.

Hedge Funds Weigh In On Immunic

A number of institutional investors have recently made changes to their positions in IMUX. 683 Capital Management LLC boosted its stake in shares of Immunic by 2.2% in the 4th quarter. 683 Capital Management LLC now owns 700,000 shares of the company's stock valued at $700,000 after purchasing an additional 15,349 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in Immunic by 11.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 215,000 shares of the company's stock valued at $215,000 after buying an additional 22,200 shares during the period. Focus Partners Wealth boosted its position in Immunic by 1.1% during the 4th quarter. Focus Partners Wealth now owns 2,168,353 shares of the company's stock valued at $2,168,000 after buying an additional 23,610 shares during the period. Invesco Ltd. purchased a new stake in shares of Immunic in the 4th quarter worth about $37,000. Finally, Barclays PLC purchased a new stake in shares of Immunic in the 4th quarter worth about $84,000. Institutional investors own 51.82% of the company's stock.

About Immunic

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.