Immuron (NASDAQ:IMRN) Short Interest Update

Immuron (NASDAQ:IMRN) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 142,940 shares, a drop of 73.2% from the May 31st total of 532,563 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average trading volume of 79,769 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Immuron in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Immuron has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Immuron stock. Citadel Advisors LLC purchased 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 and Exchange Commission (SEC). The fund purchased 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned about 0.29% of Immuron as of its most recent SEC filing. 0.12% of the stock is owned by institutional investors.

Immuron Stock Down 0.9%

NASDAQ IMRN opened at $1.10 on Friday. The stock’s 50-day moving average is $1.04 and its 200-day moving average is $0.93. Immuron has a one year low of $0.68 and a one year high of $2.39.

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

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.