Short Interest in Immuron (NASDAQ:IMRN) Expands By 1,917.5%

Immuron (NASDAQ:IMRN) was the target of a significant growth in short interest in the month of 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. Based on an average daily volume of 1,375,804 shares, the short-interest ratio is currently 0.4 days. Currently, 7.0% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Immuron

A hedge fund recently bought a new stake in Immuron stock. Citadel Advisors LLC purchased a new stake in Immuron (NASDAQ:IMRN) during the 3rd quarter, according to the company in its most recent disclosure 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 approximately 0.29% of Immuron as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 0.12% of the company’s stock.

Immuron Stock Performance

Shares of IMRN traded down $0.05 during trading hours on Wednesday, hitting $1.14. The stock had a trading volume of 13,689 shares, compared to its average volume of 153,380. The firm has a 50 day simple moving average of $0.96 and a 200-day simple moving average of $0.97. 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) EPS for the quarter. The firm had revenue of $1.40 million during the quarter.

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.