Immuron (NASDAQ:IMRN) Short Interest Down 81.0% in March

Immuron (NASDAQ:IMRN) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 5,532 shares, a decrease of 81.0% from the March 15th total of 29,148 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 19,154 shares, the days-to-cover ratio is currently 0.3 days.

Immuron Stock Performance

Shares of IMRN stock traded down $0.01 during trading on Monday, reaching $0.79. 5,549 shares of the company’s stock traded hands, compared to its average volume of 37,408. The firm’s 50-day moving average is $0.78 and its 200 day moving average is $1.24. Immuron has a 1 year low of $0.68 and a 1 year high of $2.39.

Immuron (NASDAQ:IMRN) last issued its earnings results on Wednesday, February 25th. The company reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $1.40 million for the quarter. On average, sell-side analysts anticipate that Immuron will post -0.02 earnings per share for the current year.

Institutional Trading of Immuron

An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC bought a new position in Immuron (NASDAQ:IMRN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned 0.29% of Immuron as of its most recent SEC filing. 0.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.