Immuron (NASDAQ:IMRN) Short Interest Up 1,917.5% in May

Immuron (NASDAQ:IMRN) saw a significant growth in short interest in May. As of May 29th, there was short interest totaling 532,563 shares, a growth of 1,917.5% from the May 14th total of 26,397 shares. Currently, 7.0% of the company’s stock are sold short. Based on an average trading volume of 1,375,804 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On Immuron

An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC purchased a new position in Immuron (NASDAQ:IMRN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned about 0.29% of Immuron at the end of the most recent reporting period. 0.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immuron in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Immuron Stock Down 1.7%

Shares of NASDAQ IMRN opened at $1.17 on Thursday. The firm’s 50-day moving average price is $0.96 and its 200-day moving average price is $0.97. Immuron has a 52-week low of $0.68 and a 52-week high of $2.39.

Immuron (NASDAQ:IMRN) last released its quarterly earnings data 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.

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.