Immuron (NASDAQ:IMRN) Sees Significant Increase in Short Interest

Immuron (NASDAQ:IMRN) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totaling 115,685 shares, a growth of 240.2% from the August 31st total of 34,009 shares. Based on an average daily volume of 12,663,789 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Immuron Trading Down 2.5%

IMRN traded down $0.03 during midday trading on Friday, reaching $1.16. 43,882 shares of the company’s stock traded hands, compared to its average volume of 6,531,659. Immuron has a 52 week low of $0.68 and a 52 week high of $2.39. The firm has a fifty day moving average of $1.21 and a two-hundred day moving average of $1.06.

Immuron (NASDAQ:IMRN) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.08) earnings per share for the quarter. The business had revenue of $1.27 million during the quarter.

About Immuron

Immuron Limited (NASDAQ: IMRN) is a biopharmaceutical company focused on developing and commercializing orally delivered therapeutics based on highly specific antibodies derived from hyperimmune bovine colostrum. Its approach is designed to target pathogens and disease-related factors within the gastrointestinal tract without requiring systemic absorption.

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