Immunic downgraded to Hold from Buy at D. Boral Capital

D. Boral Capital analyst Jason Kolbert downgraded Immunic (IMUX) to Hold from Buy without a price target The company is moving toward a reverse stock split, which is negative for shareholder value despite its continued clinical progress, the analyst tells investors in a research note. Boral believes Immunic’s “deteriorating share price and capital structure dynamics now outweigh near-term clinical upside.”