Ikarian Capital LLC Purchases 1,162,378 Shares of Immunic, Inc. (NASDAQ:IMUX)

Ikarian Capital LLC raised its position in shares of Immunic, Inc. (NASDAQ:IMUX) by 258.3% during the first quarter, HoldingsChannel reports. The fund owned 1,612,378 shares of the company’s stock after acquiring an additional 1,162,378 shares during the quarter. Ikarian Capital LLC’s holdings in Immunic were worth $2,128,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC bought a new position in Immunic during the first quarter valued at $9,266,000. BVF Inc. IL bought a new position in Immunic during the first quarter valued at $11,752,000. Vanguard Group Inc. increased 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. Summit Trail Advisors LLC bought a new position in Immunic during the first quarter valued at $25,000. Finally, Sierra Summit Advisors LLC bought a new position in Immunic during the fourth quarter valued at $487,000. Institutional investors own 51.82% of the company’s stock.

Analyst Upgrades and Downgrades

IMUX has been the topic of a number of research analyst reports. Brookline Capital Management restated a “buy” rating and issued a $10.00 price target on shares of Immunic in a report on Friday, April 5th. Piper Sandler restated an “overweight” rating and issued a $28.00 price target on shares of Immunic in a report on Tuesday, July 16th. Finally, StockNews.com cut shares of Immunic from a “hold” rating to a “sell” rating in a report on Thursday, July 25th.

Immunic Stock Down 2.1 %

NASDAQ:IMUX traded down $0.03 during mid-day trading on Thursday, reaching $1.40. The company’s stock had a trading volume of 155,387 shares, compared to its average volume of 584,839. Immunic, Inc. has a 1 year low of $0.95 and a 1 year high of $2.39. The stock has a fifty day moving average of $1.25 and a 200-day moving average of $1.27. The firm has a market capitalization of $126.11 million, a PE ratio of -0.77 and a beta of 1.77.

Immunic (NASDAQ:IMUX) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.02. On average, analysts expect that Immunic, Inc. will post -0.94 earnings per share for the current year.

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.