Immunic, Inc. (NASDAQ:IMUX) Short Interest Up 14.9% in December

Immunic, Inc. (NASDAQ:IMUX) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 5,640,000 shares, a growth of 14.9% from the December 15th total of 4,910,000 shares. Based on an average daily volume of 976,100 shares, the days-to-cover ratio is currently 5.8 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IMUX. StockNews.com cut Immunic from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. HC Wainwright initiated coverage on shares of Immunic in a report on Monday, November 25th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, D. Boral Capital reiterated a “buy” rating and issued a $17.00 target price on shares of Immunic in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $12.67.

Immunic Stock Performance

Shares of NASDAQ IMUX traded down $0.03 during trading hours on Friday, reaching $0.95. 1,720,429 shares of the stock were exchanged, compared to its average volume of 781,842. The stock’s fifty day simple moving average is $1.11 and its 200 day simple moving average is $1.31. The firm has a market capitalization of $85.85 million, a price-to-earnings ratio of -0.77 and a beta of 1.88. Immunic has a 52 week low of $0.95 and a 52 week high of $2.11.

Insider Buying and Selling

In related news, Director Richard Alan Rudick bought 87,300 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average price of $1.15 per share, with a total value of $100,395.00. Following the completion of the transaction, the director now owns 87,300 shares in the company, valued at $100,395. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Immunic

Several institutional investors and hedge funds have recently modified their holdings of IMUX. State Street Corp boosted its holdings in Immunic by 7.5% in the 3rd quarter. State Street Corp now owns 167,145 shares of the company’s stock valued at $276,000 after purchasing an additional 11,642 shares during the period. Virtu Financial LLC acquired a new stake in shares of Immunic in the third quarter valued at approximately $50,000. Jane Street Group LLC boosted its stake in shares of Immunic by 121.4% in the third quarter. Jane Street Group LLC now owns 70,299 shares of the company’s stock valued at $116,000 after buying an additional 38,553 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Immunic by 70.8% during the third 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 in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in Immunic during the fourth quarter worth approximately $81,000. 51.82% of the stock is currently owned by institutional investors and hedge funds.

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.