Immuron (NASDAQ:IMRN) Sees Significant Drop in Short Interest

Immuron (NASDAQ:IMRN) was the target of a large decline in short interest in June. As of June 30th, there was short interest totaling 73,743 shares, a decline of 48.4% from the June 15th total of 142,940 shares. Based on an average daily trading volume, of 37,693 shares, the short-interest ratio is presently 2.0 days. Currently, 1.0% of the shares of the company are sold short.

Immuron Stock Down 3.1%

IMRN stock traded down $0.04 during mid-day trading on Wednesday, reaching $1.20. 6,771 shares of the company traded hands, compared to its average volume of 136,313. Immuron has a 52-week low of $0.68 and a 52-week high of $2.39. The company has a fifty day moving average price of $1.11 and a 200-day moving average price of $0.94.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Immuron

An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC bought a new position in Immuron (NASDAQ:IMRN) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned approximately 0.29% of Immuron at the end of the most recent reporting period. Institutional investors own 0.12% of the company’s stock.

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.