Short Interest in Immuron (NASDAQ:IMRN) Drops By 54.1%

Immuron (NASDAQ:IMRN) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 36,212 shares, a drop of 54.1% from the July 15th total of 78,837 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 30,080 shares, the short-interest ratio is presently 1.2 days.

Hedge Funds Weigh In On Immuron

An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC bought a new stake in shares of Immuron (NASDAQ:IMRN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned 0.29% of Immuron at the end of the most recent reporting period. Institutional investors own 0.12% of the company’s stock.

Immuron Stock Down 2.7%

Immuron stock traded down $0.03 during trading on Friday, hitting $1.10. The company had a trading volume of 30,296 shares, compared to its average volume of 23,315. Immuron has a 1-year low of $0.68 and a 1-year high of $2.39. The company’s 50 day simple moving average is $1.13 and its 200-day simple moving average is $0.97.

Analyst Ratings Changes

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, the company has an average rating of “Sell”.

Immuron Company Profile

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.