Immuron (NASDAQ:IMRN) Short Interest Down 48.4% in June

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

Analysts Set New Price Targets

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

Immuron Price Performance

Immuron stock traded down $0.06 during trading hours on Thursday, reaching $1.13. The company had a trading volume of 39,818 shares, compared to its average volume of 135,615. Immuron has a 12-month low of $0.68 and a 12-month high of $2.39. The company has a 50-day moving average price of $1.12 and a 200 day moving average price of $0.94.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Immuron stock. Citadel Advisors LLC bought a new position in Immuron (NASDAQ:IMRN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned 0.29% of Immuron as of its most recent SEC filing. Institutional investors own 0.12% of the company’s stock.

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.