Immunic, Inc. (NASDAQ:IMUX) Short Interest Up 29.5% in October

Immunic, Inc. (NASDAQ:IMUX - Get Free Report) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 3,470,000 shares, an increase of 29.5% from the September 30th total of 2,680,000 shares. Based on an average daily volume of 576,100 shares, the days-to-cover ratio is currently 6.0 days.

Institutional Trading of Immunic

Institutional investors and hedge funds have recently bought and sold shares of the business. BVF Inc. IL bought a new position in shares of Immunic during the first quarter worth approximately $11,752,000. Janus Henderson Group PLC bought a new position in shares of Immunic during the first quarter worth approximately $9,266,000. Vanguard Group Inc. increased its stake in shares of Immunic by 100.7% during the first quarter. Vanguard Group Inc. now owns 3,394,047 shares of the company's stock worth $4,480,000 after purchasing an additional 1,703,047 shares during the period. Ikarian Capital LLC increased its stake in shares of Immunic by 258.3% during the first quarter. Ikarian Capital LLC now owns 1,612,378 shares of the company's stock worth $2,128,000 after purchasing an additional 1,162,378 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Immunic during the first quarter worth approximately $25,000. Institutional investors own 51.82% of the company's stock.

Immunic Price Performance

IMUX stock traded down $0.05 during trading hours on Monday, reaching $1.34. The stock had a trading volume of 889,817 shares, compared to its average volume of 594,656. The stock has a 50-day simple moving average of $1.52 and a 200 day simple moving average of $1.36. The stock has a market capitalization of $120.71 million, a PE ratio of -0.93 and a beta of 1.84. Immunic has a fifty-two week low of $0.95 and a fifty-two week high of $2.11.

Immunic (NASDAQ:IMUX - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.02. During the same period in the prior year, the business posted ($0.54) earnings per share. On average, sell-side analysts forecast that Immunic will post -0.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Leerink Partners reiterated an "outperform" rating and issued a $5.00 price target on shares of Immunic in a report on Monday, September 9th. StockNews.com upgraded shares of Immunic from a "sell" rating to a "hold" rating in a report on Tuesday, August 13th. Leerink Partnrs upgraded shares of Immunic to a "strong-buy" rating in a report on Monday, September 9th. EF Hutton Acquisition Co. I upgraded shares of Immunic to a "strong-buy" rating in a report on Monday, September 16th. Finally, B. Riley assumed coverage on shares of Immunic in a report on Tuesday, August 27th. They issued a "buy" rating and a $6.00 price target for the company. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $11.20.

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.