Immuron (NASDAQ:IMRN) Short Interest Down 73.2% in June

Immuron (NASDAQ:IMRN) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 142,940 shares, a drop of 73.2% from the May 31st total of 532,563 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily volume of 79,769 shares, the days-to-cover ratio is presently 1.8 days.

Immuron Stock Performance

Shares of Immuron stock traded down $0.01 during trading on Friday, reaching $1.10. The company’s stock had a trading volume of 11,847 shares, compared to its average volume of 87,885. The company has a 50-day moving average price of $1.04 and a two-hundred day moving average price of $0.93. Immuron has a fifty-two week low of $0.68 and a fifty-two week high of $2.39.

Immuron (NASDAQ:IMRN) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.10) EPS for the quarter. The company had revenue of $1.40 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Immuron in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Immuron

A hedge fund recently bought a new stake in Immuron stock. Citadel Advisors LLC purchased a new position in shares of Immuron (NASDAQ:IMRN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned about 0.29% of Immuron as of its most recent SEC filing. 0.12% of the stock is currently owned by institutional investors and hedge funds.

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.