5 Best Penny Stocks to Buy in July

4. Immunic, Inc. (NASDAQ:IMUX)

Number of Hedge Fund Holders: 15

Share Price as of July 11: $3.9500

Immunic, Inc. (NASDAQ:IMUX) is a New York-based clinical stage biopharmaceutical company that develops oral immunology therapies for treating chronic inflammatory and autoimmune diseases. Immunic, Inc. (NASDAQ:IMUX) stock gained 26.2% in mid-June when data from a mid-stage trial for its lead candidate for treating multiple sclerosis, IMU-838 (vidofludimus calcium), was published in Annals of Clinical and Translational Neurology.

After Immunic, Inc. (NASDAQ:IMUX) reported that its Phase 2 CALDOSE-1 study of IMU-838 in UC didn’t meet its core endpoint, Roth Capital analyst Zegbeh Jallah suggested loading up on shares amid the pullback triggered by the news. While the data was “murkier than expected”, the analyst reminded investors of Immunic, Inc. (NASDAQ:IMUX)’s Phase 3 Multiple Sclerosis study and other 2022 catalysts, while maintaining a ‘Buy’ rating and a $64 price target on the shares.