HB Wealth Management Reduces Stake in Immunic by 33.2%

HB Wealth Management LLC has decreased its stake in Immunic, Inc. (NASDAQ:IMUX) by 33.2% during the first quarter of the year. According to a recent disclosure filed with the Securities and Exchange Commission (SEC), the institutional investor now holds 52,400 shares after selling 26,000 shares during the quarter. As of this filing, HB Wealth Management’s investment in Immunic is valued at approximately $57,000.

Several other institutional investors have also adjusted their holdings in Immunic recently. Notably, 683 Capital Management LLC increased its position by 2.2% during the fourth quarter, acquiring an additional 15,349 shares to reach a total of 700,000 shares, worth $700,000. Similarly, Bridgeway Capital Management LLC boosted its stake by 11.5%, now owning 215,000 shares valued at $215,000.

Other institutional actions include Focus Partners Wealth, which raised its holdings by 1.1%, bringing its total to 2,168,353 shares valued at $2,168,000. Additionally, Invesco Ltd. purchased a new stake valued at $37,000, while Barclays PLC acquired a new position estimated at approximately $84,000. Currently, institutional investors own 51.82% of Immunic’s stock.

In trading on Monday, Immunic shares opened at $0.93, reflecting a 0.9% decrease. The stock has experienced a significant range over the past year, with a low of $0.56 and a high of $2.11. The company maintains a market capitalization of approximately $89.26 million, with a price-to-earnings ratio of -0.76 and a beta of 1.39. The stock’s 50-day moving average stands at $0.83, while the 200-day moving average is $0.97.

Analysts have varied opinions on Immunic’s stock. According to research reports, D. Boral Capital reiterated a “buy” rating with a price target of $10.00 on June 25, 2023. Similarly, HC Wainwright reaffirmed a “buy” rating with the same price objective on May 1, 2023. B. Riley also maintained a “buy” rating but adjusted its target price down from $6.00 to $5.00 on May 23, 2023. William Blair rated the stock as “outperform” in a report on May 16, 2023.

Currently, one analyst has issued a sell rating, while five hold buy ratings, and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” with an average price target set at $7.50.

Immunic, Inc. is a biotechnology firm focused on developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, primarily in the United States and Germany. The company’s lead development program, IMU-838, is currently in Phase 3 clinical trials for the treatment of multiple sclerosis, including both relapsing and progressive forms, as well as moderate-to-severe ulcerative colitis.