Immuron (NASDAQ:IMRN) Sees Significant Decline in Short Interest

Immuron (NASDAQ:IMRN) saw a significant decrease in short interest in June. As of June 15th, there was short interest totaling 142,940 shares, a decrease of 73.2% from the May 31st total of 532,563 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 79,769 shares, the short-interest ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Immuron in a research note on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Immuron presently has a consensus rating of “Sell”.

Immuron Trading Down 1.8%

IMRN traded down $0.02 during trading on Monday, reaching $1.08. The company had a trading volume of 26,086 shares, compared to its average volume of 142,507. The firm’s 50-day simple moving average is $1.04 and its 200 day simple moving average is $0.92. Immuron has a 12-month low of $0.68 and a 12-month high of $2.39.

Immuron (NASDAQ:IMRN) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.10) EPS for the quarter. The business had revenue of $1.40 million for the quarter.

Institutional Investors Weigh In On Immuron

An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC acquired a new position in Immuron (NASDAQ:IMRN) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned 0.29% of Immuron as of its most recent filing with the SEC. 0.12% of the stock is currently owned by institutional investors and hedge funds.

About Immuron

Immuron Limited, a biopharmaceutical company, researches and develops oral immunotherapy polyclonal antibodies for the treatment and prevention of infectious and immune modulated diseases in Australia, the United States, and internationally. The company operates through two segments, Research and Development, and Hyperimmune Products. The company markets Travelan and Protectyn for the prevention of travellers' diarrhea. Its lead product candidates include IMM-124E that is in Phase II clinical trials for non-alcoholic steatohepatitis, severe alcoholic hepatitis, and non-alcoholic fatty liver disease, as well as used in antiviral activity against the COVID-19 virus in laboratory studies; and IMM-529, a clinical stage product for clostridium difficile infections.