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

Immuron (NASDAQ:IMRN) dropped 0.5% during trading on Monday . The stock traded as low as $0.9401 and last traded at $1.00. Approximately 30,387 shares traded hands during mid-day trading, a decline of 24% from the average daily 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 investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Immuron Trading Down 1.0%

The business has a 50-day simple moving average of $0.83 and a 200-day simple moving average of $1.02.

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

Institutional Investors Weigh In On Immuron

A hedge fund recently bought a new stake in Immuron stock. Citadel Advisors LLC acquired a new stake in Immuron (NASDAQ:IMRN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned 0.29% of Immuron at the end of the most recent quarter. 0.12% of the stock is owned by hedge funds and other institutional investors.

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.