Short Interest in Immunic, Inc. (NASDAQ:IMUX) Rises By 29.7%

Immunic, Inc. (NASDAQ:IMUX) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 4,500,000 shares, an increase of 29.7% from the October 15th total of 3,470,000 shares. Based on an average daily trading volume, of 704,000 shares, the days-to-cover ratio is currently 6.4 days.

Insider Buying and Selling at Immunic

In other Immunic news, Director Richard Alan Rudick purchased 87,300 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of $1.15 per share, for a total transaction of $100,395.00. Following the purchase, the director now owns 87,300 shares of the company’s stock, valued at $100,395. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Immunic

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Immunic in the 1st quarter worth about $25,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Immunic by 70.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 102,257 shares of the company’s stock worth $169,000 after buying an additional 42,383 shares during the last quarter. Ikarian Capital LLC boosted its stake in Immunic by 258.3% in the first quarter. Ikarian Capital LLC now owns 1,612,378 shares of the company’s stock worth $2,128,000 after buying an additional 1,162,378 shares in the last quarter. Vanguard Group Inc. grew its position in Immunic by 100.7% during the first quarter. Vanguard Group Inc. now owns 3,394,047 shares of the company’s stock valued at $4,480,000 after acquiring an additional 1,703,047 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in shares of Immunic during the first quarter worth approximately $9,266,000. 51.82% of the stock is owned by institutional investors.

Immunic Price Performance

IMUX stock opened at $1.09 on Friday. The firm has a 50 day simple moving average of $1.45 and a two-hundred day simple moving average of $1.35. Immunic has a one year low of $0.97 and a one year high of $2.11.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IMUX. EF Hutton Acquisition Co. I upgraded Immunic to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com lowered Immunic from a “hold” rating to a “sell” rating in a report on Monday. B. Riley started coverage on shares of Immunic in a report on Tuesday, August 27th. They issued a “buy” rating and a $6.00 price target on the stock. Leerink Partners restated an “outperform” rating and issued a $5.00 price objective on shares of Immunic in a research report on Monday, September 9th. Finally, Leerink Partnrs raised shares of Immunic to a “strong-buy” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $12.25.

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.