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

Immuron (NASDAQ:IMRNGet Free Report) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 73,743 shares, a drop 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. Approximately 1.0% of the shares of the stock are short sold.

Immuron Stock Down 3.1%

Shares of IMRN stock traded down $0.04 during trading on Wednesday, hitting $1.20. The company had a trading volume of 6,771 shares, compared to its average volume of 136,313. The stock’s 50-day moving average is $1.11 and its two-hundred day moving average is $0.94. Immuron has a 52 week low of $0.68 and a 52 week high of $2.39.

Hedge Funds Weigh In On Immuron

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

Wall Street Analyst Weigh In

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

Get Our Latest Stock Report on IMRN

Immuron Company Profile

(Get Free Report)

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.

Further Reading

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