Immuron (NASDAQ:IMRN) Short Interest Update

Immuron (NASDAQ:IMRN) was the target of a large decline in short interest in June. As of June 15th, there was short interest totaling 142,940 shares, a decline of 73.2% from the May 31st total of 532,563 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average trading volume of 79,769 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Immuron stock. Citadel Advisors LLC acquired a new stake in Immuron (NASDAQ:IMRN) during the third quarter, according to its most recent filing with the SEC. The firm acquired 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 filing with the SEC. Institutional investors and hedge funds own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Immuron Stock Down 0.9%

Shares of NASDAQ IMRN opened at $1.10 on Friday. Immuron has a 1-year low of $0.68 and a 1-year high of $2.39. The company has a 50-day moving average of $1.04 and a two-hundred day moving average of $0.93.

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 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.