Immuron (NASDAQ:IMRN) Shares Pass Below 50-Day Moving Average – What’s Next?

Immuron (NASDAQ:IMRN)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.16 and traded as low as $1.0301. Immuron shares last traded at $1.11, with a volume of 21,507 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immuron in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Immuron Trading Up 1.4%

The business has a fifty day moving average price of $1.16 and a 200-day moving average price of $0.96.

Institutional Trading of Immuron

An institutional investor recently bought a new stake in Immuron stock. Citadel Advisors LLC purchased a new stake in Immuron (NASDAQ:IMRN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 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 Securities & Exchange Commission. 0.12% of the stock is 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.