Short Interest in Immuron (NASDAQ:IMRN) Decreases By 48.4%

Immuron (NASDAQ:IMRN) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 73,743 shares, a decline of 48.4% from the June 15th total of 142,940 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average trading volume of 37,693 shares, the short-interest ratio is currently 2.0 days.

Wall Street Analysts Forecast Growth

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

Immuron Trading Up 7.1%

Shares of IMRN stock traded up $0.08 during trading hours on Friday, hitting $1.21. 24,676 shares of the company were exchanged, compared to its average volume of 134,793. The firm has a fifty day moving average of $1.13 and a 200 day moving average of $0.94. Immuron has a 1 year low of $0.68 and a 1 year high of $2.39.

Institutional Trading of Immuron

An institutional investor recently bought a new stake in Immuron stock. Citadel Advisors LLC bought a new stake in Immuron (NASDAQ:IMRN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned about 0.29% of Immuron at the end of the most recent quarter. 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.