Immuron (NASDAQ:IMRN) Stock Crosses Below Fifty Day Moving Average – Should You Sell?

Immuron (NASDAQ:IMRN) shares 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 trading hands.

Analyst Upgrades and Downgrades

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

Immuron Stock Performance

The stock has a 50 day moving average price of $1.17 and a two-hundred day moving average price of $0.96.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Immuron stock. Citadel Advisors LLC acquired a new position in shares of Immuron (NASDAQ:IMRN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 reporting period. 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.