Immuron (NASDAQ:IMRN) Stock Short Interest Drops 46.6%

Immuron (NASDAQ:IMRN – Get Free Report) saw a large decrease in short interest in September. As of September 30th, there was short interest totaling 61,753 shares, a decrease of 46.6% from the September 15th total of 115,685 shares. Based on an average daily volume of 109,695 shares, the short-interest ratio is presently 0.6 days. Approximately 0.8% of the company’s shares are sold short.

Immuron Stock Performance

Shares of IMRN stock traded down $0.01 during trading hours on Wednesday, hitting $1.03. 5,788 shares of the company were exchanged, compared to its average volume of 762,899. The company has a 50 day simple moving average of $1.21 and a two-hundred day simple moving average of $1.09. Immuron has a fifty-two week low of $0.68 and a fifty-two week high of $2.39.

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Immuron (NASDAQ:IMRN – Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $1.27 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immuron in a research note on Monday, September 21st. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Immuron currently has a consensus rating of “Sell”.

Read Our Latest Analysis on IMRN

Immuron Company Profile

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Immuron Limited (NASDAQ:IMRN) is an Australian biopharmaceutical company focused on developing and commercializing orally delivered immunotherapies. Its products are based primarily on antibodies derived from hyperimmune bovine colostrum and are designed to act locally in the gastrointestinal tract rather than enter the bloodstream.

The company’s leading product is Travelan, an oral treatment intended to help prevent travelers’ diarrhea caused by enterotoxigenic Escherichia coli (ETEC).

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