Immunic (NASDAQ:IMUX) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Immunic from “sell” to “hold,” while the broader analyst consensus remains “Buy” with an average price target of $47.57.
• Immunic shares opened at $16.06 after declining 3.1%; the company reported a quarterly loss of $0.80 per share, beating estimates for a $1.16 loss.
• Institutional investors own 51.82% of the company, with Avidity Partners increasing its stake by 42.6%; Immunic is developing oral therapies led by Phase 2 candidate vidofludimus calcium.

Immunic (NASDAQ:IMUX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Several other research firms have also commented on IMUX. B. Riley Financial lowered their price target on shares of Immunic from $40.00 to $27.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. Roth Capital reiterated a "buy" rating and set a $19.00 price objective on shares of Immunic in a research note on Thursday, May 14th. LADENBURG THALM/SH SH upgraded Immunic to a "strong-buy" rating in a research note on Wednesday, July 29th. Lifesci Capital raised Immunic to a "strong-buy" rating in a report on Monday, May 4th. Finally, Wolfe Research initiated coverage on Immunic in a research note on Friday, May 22nd. They issued an "outperform" rating on the stock. Three 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 MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $47.57.

Immunic Trading Down 3.1%

Shares of NASDAQ IMUX opened at $16.06 on Friday. Immunic has a 12 month low of $5.06 and a 12 month high of $16.86. The company has a 50 day simple moving average of $14.45 and a two-hundred day simple moving average of $12.06. The stock has a market cap of $219.06 million, a price-to-earnings ratio of -3.67 and a beta of 1.41.

Immunic (NASDAQ:IMUX - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.36. Analysts forecast that Immunic will post -4.49 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Avidity Partners Management LP boosted its stake in shares of Immunic by 42.6% during the 1st quarter. Avidity Partners Management LP now owns 6,699,411 shares of the company's stock worth $7,436,000 after acquiring an additional 2,000,000 shares in the last quarter. CTC Alternative Strategies Ltd. acquired a new stake in shares of Immunic during the 1st quarter valued at about $27,000. Bank of America Corp DE grew its position in shares of Immunic by 80,724.2% during the 1st quarter. Bank of America Corp DE now owns 143,867 shares of the company's stock valued at $160,000 after acquiring an additional 143,689 shares during the period. ADAR1 Capital Management LLC purchased a new position in shares of Immunic in the 1st quarter valued at about $33,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Immunic in the 1st quarter valued at about $187,000. Institutional investors and hedge funds own 51.82% of the company's stock.

Immunic Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source