Immuron (NASDAQ:IMRN) Trading Down 0.5% – Here’s Why

Immuron (NASDAQ:IMRN) traded down 0.5% during trading on Monday . The stock traded as low as $0.9401 and last traded at $1.00. 30,387 shares were traded during mid-day trading, a decline of 24% from the average session volume of 40,052 shares. The stock had previously closed at $1.0050.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Immuron in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Immuron has an average rating of “Sell”.

Immuron Stock Down 0.5%

The company’s fifty day moving average is $0.83 and its two-hundred day moving average is $1.03.

Immuron (NASDAQ:IMRN) last issued its earnings results on Wednesday, February 25th. The company reported ($0.10) earnings per share for the quarter. The company had revenue of $1.40 million for the quarter.

Institutional Trading of Immuron

An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC acquired a new position in shares of Immuron (NASDAQ:IMRN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned approximately 0.29% of Immuron at the end of the most recent quarter. 0.12% of the stock is owned by institutional investors and hedge funds.

Immuron Company Profile

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.